This presentation RapidValue's Unified Digital Experience (UDX) and how it enhances customer experience and Operational excellence for the life insurance industry. It looks into the top priorities for life and annuity insurance business, and addresses the key functionalities of customer life-cycle that must be digitally transformed

1. © RapidValue Solutions
Insurance
Unified
Digital
Xperience

2. © RapidValue Solutions 2
Are you digital ready as the bots are to take on the insurance jobs?
2016
2017
2018
2019
2020
Cyber actuary
Works out the
personal risk and
loss associated
with the hack of
an insured’s digital
profile
Telemedicine
nurse
A nurse located
anywhere in the
world that
administers
medical checks
via video
conference
Solution architect
Figures how to
integrate data
from connected
devices and
platforms into
automated claims
and approvals
Drone pilot
Pilots multiple
drones to take
photos of claims
for assessment
Digital forensic
investigator
Social media
trawlers who
check digital alibis
to confirm
insurance claims &
bonafide
Timeline to disruption

3. © RapidValue Solutions 3
Top 3 priorities for Life & Annuity insurance business
Transforming for growth Addressing longevity risks Achieving information fluency
Revenue growth continues to
underperform, in large part due to the
industry’s lack of success in attracting new
clients. Adding to it, drop in customer
experience underscored rising customer
expectations dragging down the customer
experience levels.
Given the aging US population, improved
health care, and lengthening lifespans,
fewer and fewer people are covered by
defined benefit retirement plans. A
Deloitte survey said about 50% have not
saved enough to cover them through
retirement.
Many insurers are not positioned to fully
leverage the vast amount of data they
already have, let alone the new sources of
information and real-time analysis at their
disposal.
Explore direct-to-consumer options,
particularly to target gen Y (>50%
internet users), lower-income, and other
underserved segments.
Improve customer experience to meet
customer standards
Enhanced creativity, risk management,
and consumer communications are the
key capabilities in serving this expanding
market.
A new data management infrastructure
and governance architecture should break
free of outdated, siloed systems, while
turning data into both a strategic asset
and a competitive advantage.

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Key functionalities of customer lifecycle that must be digitally transformed
Research & Quote
Generation
Policy Purchase Policy Administration Claims Servicing
Static/dynamic
organization info
Product details &
comparison
Capturing information
in real-time
Information based
quote generation
Quotes to policy
conversion
Document management
Payment & policy
issuance
Access to policy details
Modify policies &
contact details
Reminders &
confirmations
Premium payment &
management
Claims report
Claims processing on
mobile/online
Real-time claim status
notifications
Quick inspections and
reports
Proactive query &
compliant resolution
Modern UI and simplified UX
Distribution integration and Omni-channel touchpoints
Automated customer management and back-end processes
Customer interaction Customer interaction
CustomerXperienceOperationalXcellence
Online assistance

5. © RapidValue Solutions 5
RapidValue’s Unified Digital Xperience (UDX) enhances customer experience and
operational excellence
Price
competitively
Constant
messaging
Engage regularly
Deliver
efficiently
Measure
appropriately
↑ Customer
experience
↑ Operational
Excellence
Transform
effectively

6. © RapidValue Solutions
Concepts & Ideas

7. © RapidValue Solutions 7
Increase conversions…

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…and conversations

9. © RapidValue Solutions
About RapidValue
RapidValue is a leading provider of end-to-end mobility, omni-channel and cloud solutions to
enterprises worldwide. Armed with a large team of experts in consulting, UX design, application
engineering, testing, along with experience delivering global projects, we offer a range of services
across various industry verticals. RapidValue delivers its services to the world’s top brands and
Fortune 1000 companies, and has offices in the United States and India.
www.rapidvaluesolutions.com www.rapidvaluesolutions.com/blog
+1 877-643-1850 contactus@rapidvaluesolutions.com
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