Businesses are under pressure to be in the know of all the latest technology changes. Given its fast-paced nature, perhaps no industry is feeling the crunch more than insurance. “Everyone is busy, time is at an all-time premium, and CIOs are tasked with solving complex problems each day with fewer resources,” answers Roger Duffield, President of in2vate. Insurers, brokers, and pool administrators are struggling for differentiation to retain customer loyalty, reduce costs, and sustain profitability. In this challenging environment, claims reduction can serve as a market differentiator that brings innovation to the forefront.
Organizations can improve claims results by leveraging robust business intelligence, targeted resources, and focused education. “While enterprises are trying to simplify their processes, the knowledge silos and lack of departmental engagement are stymieing growth and improvement. in2vate is committed to changing this. We have the ability to aggregate data for complex organizational structures to manage risk,” comments Duffield.
in2vate’s solutions allow the sharing of data throughout an organization based on job responsibilities which allows for informed decision-making. “And most importantly, we ensure our solution is simple because complexity got us here and simplicity will get us out,” he adds. in2vate has launched a new risk assessment tool with CSACEIA, which serves over 1700 California Public Entities. The key features of the application include benchmarking, best practices, risk measurements, and auto-generated action plans. The tool can allow risk managers to demonstrate improvements over time. “What we have learned is that the results of our work have far-reaching impact on the insurance industry as a whole,” states Duffield.
“We ensure our solution is simple because complexity got us here and simplicity will get us out.”
Additionally, in2vate integrates education and targeted measurements with real risk data in a single technology platform, empowering organizations to reduce claims and bringing organizational improvements. The firm uses a proprietary cloud-based risk management engine called in2vate online™ that runs all of their applications, which include a learning management system, customizable assessment, and a profile-based user rights system. “All of our applications are used to gather risk information, educate employees, and reduce risk,” says Duffield. Through these applications, clients can experience improvements in compliance, operations, and claims reduction.
in2vate’s self-effacing work culture and passionate team have made the company a stellar performer and hit among clients. Duffield states, “As for our work, we let it speak for itself.” On working with in2vate, Charles Williams, Loss Prevention Manager of CSACEIA commented, “…in2vate’s foresight resulted in an intuitive program with great potential for both the pool and our individual members. We highly recommend in2vate.”
Ease of use, integration, simplicity, and depth of capability aptly describe in2vate’s application. “Our tools are agonistic, which allows us to work in a wide variety of situations and be flexible beyond what most insurance companies are used to,” says Duffield. For those organizations that are committed to improving results, in2vate is prepared to provide a performance guarantee. “We do not see other organizations offer the complete package and guarantee that we do,” remarks Duffield.
When asked where will in2vate be headed for the remainder of 2017 and 2018: “We will continue to lead the industry, leveraging technology to simplify complex risk management challenges for innovative companies,” concludes Duffield. “We do this because it’s our mission to transform the way companies perceive and act related to risk management. There is just so much opportunity and we’re excited to be part of the solution.”
Originally published May 11, 2017 by CIOReview. View the original article here.