The Time is Right for Innovation in Insurance

I recently listened in on a webinar conducted by the financial services industry analyst firm Celent. The webinar was titled, “Innovation in Insurance: Myth or Reality?” In the webinar, two of Celent’s insurance industry analysts, Catherine Stagg-Macey and Nicolas Michellod, discussed how innovation has become a top priority for many financial services companies, particularly insurance companies.

Michellod pointed to the Oliver Wyman Innovation Survey which found that 84 percent of financial institutions rank product innovation among their top priorities, with 74 percent citing process innovation as a priority. While innovation may not be one of the top words that come to mind when you think of insurance, this comes as no surprise to us at Enservio.

Enservio grew out of a need for new and innovative products and services that could change the way business was done in insurance. We found that insurance policyholders were not receiving the quality service they wanted and needed, and carriers were losing opportunities to cut costs, increase profitability and improve the customer experience. What started as a homegrown pricing software has developed into the market’s leading contents claims solution - the Enservio Valuation Platform. At Enservio, we pride ourselves on our ability to accelerate the contents claims process, improve accuracy, manage costs and increase customer satisfaction. And insurance carriers are paying attention – there is a reason we work with 11 of the top 15 carriers! The time is right for innovation in the insurance industry and we’re proud to lead the charge in a situation where everyone wins.