Innovating Insurance with Persona-Based Insights and Tools

Today’s insurers face growing pressure to consistently deliver smarter, more personalized, data-driven experiences to all the relevant personas, including agents, brokers, customers and employers. The need for seamless, intelligent platforms powered by advancements in AI and GenAI has never been greater, with customers demanding tailored experiences, and agents and underwriters seeking advanced, decision-making tools.  

To embrace this new era, insurers are turning toward digital insurance platforms that promise enhanced experiences by equipping stakeholders with the right tools and data at critical moments. For example, agents need real-time insights during the quote and buy process to tailor coverage options and pricing for customers. Claims handlers require instant access to policy details, past claims history, and AI-driven fraud detection to streamline resolutions. Underwriters benefit from predictive analytics to assess risk more accurately, while policyholders expect seamless self-service tools for policy management and claims tracking. By delivering these capabilities, insurers can redefine the insurance journey, improving decision-making, efficiency, and customer satisfaction. 

Single Source of Truth: The Power of 360° Views 

One of the biggest challenges of traditional legacy systems is data silos that make it difficult to gain a comprehensive view of operations and deliver a personalized customer experience. Digital insurance platforms such as Sapiens Insurance Platform address this issue by consolidating data into a single source of truth across core administration systems, digital channels, third party systems and other business applications, providing a holistic view of data per persona, based on their business needs. This integration not only eliminates inefficiencies but also empowers insurers to deliver tailored, streamlined experiences for every persona. 

By designing dedicated views, dashboards, reports, and tools for specific personas and users, Sapiens Insurance Platform ensures seamless interactions and enhances productivity. Sapiens’ customer 360° view provides a consolidated perspective of customer policies, claims history, interactions, and preferences, empowering insurers to anticipate needs and offer personalized solutions. An agent 360° view offers agents holistic dashboards that showcase performance metrics, sales pipelines, and personalized coaching opportunities, enabling them to improve outcomes and deepen customer relationships. 

Portals that Empower Every Role 

Building on these comprehensive views, Sapiens Insurance Platform goes a step further by offering dedicated portals for each persona, transforming insights into actionable tools that streamline workflows and enhance user experiences. A user-friendly customer portal allows policyholders to track policies, manage claims, and make payments effortlessly. An agent portal provides agents real-time insights into customer interactions, sales performance, and proactive recommendations. An underwriter portal leverages automation to optimize risk analysis and underwriting decisions. A claim handler portal streamlines claims prioritization, identifies potential fraud, and enables timely resolutions. 

Advanced Analytics & Real-Time Data Analysis 

Innovative digital insurance platforms empower decision making through advanced analytics. The integration of business intelligence (BI), artificial intelligence (AI), and machine learning (ML) models gives insurers the tools to anticipate trends and optimize operations.  

ML predictive models provide actionable insights with visualizations tailored to business needs. Critical processes such as underwriting, pricing optimization, and customer retention are not only accelerated by models like customer lifetime value prediction and next-best-offering recommendations but also enhanced to support smarter decision-making. These models leverage vast amounts of data and focused ML algorithms, which are trained to provide predictive insights and actionable suggestions tailored to each business persona. 

Timing is critical when engaging with customers and making smart business decisions. Sapiens Insurance Platform leverages real-time data analysis to deliver maximum value to users across the value chain. Agents are alerted when high-value customers show signs of potential churn, enabling proactive engagement.  

Empowered by GenAI 

GenAI tools boost efficiency and flexibility by acting as co-pilots that assist various personas across the insurance ecosystem. These tools streamline workflows, generate document summaries, and enhance decision-making by providing deeper insights.  

For example, GenAI can analyze customer data and suggest the next best action or cross-sell opportunities for agents, improving customer engagement and sales. GenAI also examines historical claims data and external risk factors to help underwriters assess risk levels and recommend pricing adjustments with greater accuracy. Additionally, GenAI automates policy and claims documentation summaries, reducing manual effort and improving operational efficiency. 

Predictive analytics, combined with GenAI capabilities, can also suggest policy upgrades tailored to a customer’s life stage, driving growth and satisfaction. 

Additional use cases include: 

• Automating the entire claims journey with GenAI as a co-pilot in the claims handling process to identify the nature of the claim and advise on next steps. This speeds up claims processing, resulting in quicker payouts and higher customer satisfaction, reduces manual labor, significantly cutting costs in claims handling and improved customer experience. 
• Underwriting, Accelerated:  Automatically summarizes complex underwriting documents and consolidates multiple documents into a single, comprehensive view, utilizing Optical Character Recognition (OCR) to read and digitize handwritten documents. Also provides instant answers to specific underwriting questions, ensuring relevant and accurate responses. ML algorithms assess and manage underwriting risks by analyzing data patterns and predicting potential issues. 
• Customer Engagement with GenAI & ML: Intelligent AI assistant ensures 24/7 service in natural language for any issue, provides immediate answers to any insurance lifecycle by accessing real-time customer data and customer transaction history and delivers personalized engagement by analyzing customer behavior to recommend relevant products, enhancing the overall experience. 

 Shaping the Future of Insurance Through Data and Personalization 

As the insurance industry continues to evolve, data-driven platforms are essential for growth. By combining a single source of truth, persona-based experiences, real-time insights, and advanced analytics, digital insurance platforms enable insurers to enhance efficiency, elevate customer satisfaction, and maintain a competitive edge. Sapiens’ AI-based, open, integrated business solutions empower insurers with the speed to market to swiftly adapt to market changes and offer innovative products and services more efficiently.