Earnix Blog > What if a Pandemic Happens Again? Is the Insurance Industry Ready

What if a Pandemic Happens Again? Is the Insurance Industry Ready

Dror Pockard

April 30, 2020

Imagine this - you managed to get your organization through the COVID-19 crisis, and life seems to be getting back to normal when the second wave of the pandemic delivers an even harsher blow to the economy.

What have you done to get ready?

Did you debrief and learn from what went wrong -and where you need to improve? Did you invest in introducing solutions that would enable you to be faster, smarter, more agile - and to get ahead of your competition?

What we already know for certain, is that the first wave of COVID-19 has made a lasting impact; competition got tougher, digitization is becoming the norm, customers demand personalized solutions, and business velocity is the name of the game.

To stay relevant, pricing and rating organizations must own the ability to monitor their operations in real time, quickly update predictions, simulate and implement different product and pricing strategies, and adjust faster and smarter to changing market conditions.

Financial institutions knew they had to move on with digitization and personalization - but never quite understood the urgency. Companies thought that it would take years to integrate the necessary new solutions, so everybody took their time.

Introducing Value First:

Achieve Value, Fast – Achieve significant value in minimal time with Earnix. Implement an end-to-end solution, based on the data you already have (even if incomplete ). Start with your existing models and pricing strategy, import them as they are, and improve them later. Adjust fast to market and business changes and improve your speed-to-market, governance, and agility to win in this highly volatile, new era.

Incremental Agile Deployment – Focus on your key business potential, implement a solution that drives value in the short run, and expand to additional areas of the business on the go. You can expand, by line of business, product, geography, or group of customers - gaining value while moving ahead.

Bypass Deep Integration – Enjoy our fast and easy integration process; have IT support on board and implement by APIs. It’s that simple.

Cloud and Remote Deployment – Implement our solution remotely – and access it remotely. The Earnix implementation procedure is fast, efficient, and fully cloud-based.

Automation – Reduce errors and focus on business analysis - instead of continuous testing and multiple handoffs. Save costs and improve your bottom line while ensuring customer satisfaction. With a fully automated policy administration system, you will be able to adapt your prices, products, and policies in minimal time, all through well-governed, compliant, and accurate business processes.

Now, take a deep breath. The future – and your company’s future – starts right now. Begin your journey today with our insurance rating engine, and be ready by the time the next crisis touches down.

It’s that easy to win with Earnix.


From eBooks and blogs to videos and more, discover insightful Insurance content right here.
Compartir article:

Dror Pockard