Unlock the Potential of eSignature Licitness for Insurance Industry in Australia

How to eSign a document: e-signature licitness for Insurance Industry in Australia

(music) - In Australia, the increasing disasters and weather events was increasing the cost of insurance for everyone. For any insurer to be sustainable over the longer term, they need to find ways to take costs out of their business and do things more efficiently. One of the things we are trying to think about in five years' time, 10 years' time, is what does that claims experience look like? - We really want to take advantage of predictive analytics in the platform. In our first release, we've built one model that will sit there and learn, but we really want to plug in the predictive analytics and the data that's coming out of Guidewire Cloud Platform. We can drive more automation and more intelligence in the claims process. - Straight-through claims processing for low-value claims is a big part of innovation within the claims space. The significant majority of claims that we deal with are quite low-value, so brokers and customers have an expectation that those claims are dealt with really quickly. Traditionally, claims processing has required a lot of double-keying from your policy system into your claims system. Guidewire removes that need. The efficiency gains that we're going to achieve at the front end from FNOL all the way through to finalization is going to be phenomenal. Retention's a key metric that we follow. ind of brought us down to very much looking at Guidewire. to drive our retention rate up - a platform that really guides a claims officer through the process and enables them to make informed decisions along the way.