In the changing landscape of the insurance industry, continually improving processes is critical to staying competitive and reducing operational risks. The industry is dealing with significant changes as a result of high inflation and the complexities of new regulations. Managing these pressures requires a careful balance of compliance and operational efficiency. This briefing note provides the following five case studies that show examples of some techniques we have used to improve our clients' processes:
- Tailored automation solutions
- Reporting team reorganisation and overhaul
- Using Milliman Mind: Harmonised reporting
- Centralised results and controls
- Leveraging generative artificial intelligence (AI)