DATE: TUESDAY, MARCH 10, 2020
TIME: 2:00 PM ET
DURATION: 1 HOUR
Even as insurers introduce mobile apps so that customers can stay current on the status of claims, many insurance companies' finance and back-office departments still manage their own data with outdated software and systems.
Rather than relying exclusively on internal colleagues to evaluate alternatives, finance leaders at insurance companies are seeking outside expertise from third-party services firms. Besides determining whether to augment or replace software, finance leaders are working closely with services firms to give finance and back-office departments access to software and data through the cloud. Like their counterparts in other departments such as human resources, finance leaders have come to recognize that compared to on-premise systems, cloud-based software offers greater portability, ease of access, and security.
For insurers in particular, cloud-based software is especially valuable in enabling finance teams to manage payments of claims and refunds to customers as easily as customers can view claims on their phones. An insurance company that can expedite payments and refunds electronically has a significant advantage over competitors that continue to require customers to incur the risks of awaiting checks in the mail.
During this webinar, we will provide a roadmap for finance leaders at insurers that are looking to migrate back-office systems to the cloud. We will discuss:
- Why insurers, after years of deploying on-premise, back-office systems, are now pursuing cloud-based alternatives,
- Which key criteria finance leaders, in consultation with internal colleagues and external services firms, should consider as they determine whether to replace or augment back-office systems,
- What organizational and technological obstacles finance leaders at insurers need to overcome to ensure a smooth transition of back-office systems to the cloud, and
- How moving back-office systems to the cloud enables insurers to improve customer satisfaction and achieve competitive advantage by streamlining accounts payable and other essential finance processes.