5 processes to digitize commercial lines insurance
Published on 14 de February de 2022
Commercial Lines Digital Insurance with Wenalyze

Digitization inside the Commercial Lines Insurance is here to stay. 85% of insurance CEOs said that the pandemic was one of the main reasons they started to transform their operations, and they are not coming back to the traditional processes.

Some small insurance companies do not know where to start, or they do not know the impact that digitization will have on their businesses. That is the reason why we leave you 5 processes that can be the beginning of your digitization process.

Communication with the clients

The ways we communicate changed considerably during the latest years, so clients now demand that the companies communicate with them in a digital way.

In the insurance industry, in order to meet the new needs of the customers, there are some easy steps to begin with. For example, reducing presential meetings or long telephone calls. Instead, they gave the option of managing their insurance processes online through apps, or web services.

communication with the clients commercial insurance - wenalyze


As mentioned above, customers demand now new platforms and new channels. Also, clients from younger generations will feel more engaged with their insurance companies.

If insurers give the option of multichannel to their customers, it will become easier, for example, to manage a prime or to check your account from your phone.

Multichannel prime managing with insurance innovation


The administration of the clients’ data is one of the main concerns of insurers and also, protecting their data is a priority.

Here, technology gives an immense advantage: having all the data stored in the cloud or encrypted with blockchain technology is definitely safer than storing the data physically.

Also, storing the data in this way, makes insurers increase their productivity and process the data easier.

clients data in the cloud - commercial insurance digitization

Process automation

The automation of different processes through data analytics gives the option to automate traditional processes that were usually done by pen and paper and that nowadays are done digitally.

Processes such as underwriting rely now on more accurate data that has been updated in real-time.

processes automation - digitize insurance wit wenalyze

Data Analysis

We have already talked about the power of open data in the insurance industry. By gathering data from open data sources and contrasting it with the traditional data insurers already have, it is possible to estimate better pricing, better risk selection, and claims.

The predictive analysis developed by implementing Open Data makes the insurer save time and money and makes them more productive.

data of the clients in the cloud - wenalyze

One solution for becoming more digital is to cooperate with an insurtech such as Wenalyze. By doing so, you will live in first person the benefits of insurtech and how it also helps to develop innovation in insurance. If you would like to know more about it, let us know on our social media channels.