Insurance

We drive the transformation of the insurance sector through knowledge of the business, applying technology as a differentiating element

insurance

At the Babel insurance unit, we anticipate the trends and needs of our clients, aware of the current macroeconomic environment, the emergence of new risks, and the growing demand for sustainability and security. 

Our range of services is designed to meet the main demands of the insurance sector, covering all branches: life, non-life, health, death and surety.

How we can help you

We understand the different branches of the insurance business, and set up technological solutions throughout the insurance value chain.

We align our services with the three fundamental aspects demanded by our clients:

1) Customer first. Improving the customer experience across all channels, addressing needs in all branches. 

2) Business improvement. Focusing on operational efficiency, attention to new risks, underwriting and sustainability (ESG)

3) Digital technology. Preparing the organisation for consumer change, competition and cost pressures due to technological obsolescence.

Our vision for the sector is geared towards connectivity and contributing to the creation of a digital insurance ecosystem.

 

Business Knowledge

We have an Insurance Centre of Excellence and our own Amaine core insurance solution

Trust

We collaborate with the main insurance companies in the market

Transformation

Leading the way in supporting our clients on their journey into the digital age

Innovation

We rely on the latest technological trends and develop new business models thanks to our ecosystem of partners

Advantages Knowledge Transformation Trust Innovation

Services

Digital solutions

Thanks to the specialisation of our Digital Centres by technologies and channels, we develop: public portals and corporate intranets,
digital channels, ecommerce,
digital onboarding, OpenInsurance architectures, tele-assistance services for expertise and customer service, advanced user experience (UX/UI),
web analytics

Integrated management solutions

We design, implement and maintain management solutions for insurance companies. We support the entire transformation process, from governance to change management. We have our own SaaS solution (AMAINE) with more than 10 implementations.

Data & AI for Insurance

We use data as a differentiating element to improve the insurance business. We have a specialised data unit with verticalised knowledge in the insurance sector. We develop data governance projects, generative AI for document recognition,
fraud, computer vision,
customer knowledge, prediction of weather events

Optimisation of claim processing

We develop tailor-made solutions for the improvement and optimisation of claims through the use of process management platforms (BPM) and workflows (case management). We also implement event architecture to streamline timelines and improve the customer experience.

Cybersecurity and DORA compliance

Solutions and services for the prevention of cybersecurity risks. Detection of threats and vulnerabilities, and their resolution and mitigation. We ensure and verify compliance with European safety standards (DORA)

Change management

We support our clients in their transformation and change management processes, developing their teams and mediation networks. We design change management plans, and implement training content. We are experts in e-learning platforms and solutions, IDD sector training and certification, and ESG sustainability.

What makes us strong

Business knowledge

We have professionals with more than 15 years of experience in the implementation of life, non-life, health and death insurance solutions. Serving the business areas of operations and IT.

Experts in digital transformation

Our technological DNA allows us to select and implement the best technology to bring about change in organisations

Multiple references

Focused on the success of our clients. More than 30 clients in the insurance sector with multiple and diverse references in projects and services are our guarantee

Specialisation

Leaders in the implementation of core insurance solutions in death, life, non-life, health and surety.

Innovation

We innovate in specific areas of the insurance sector, such as mobility and health, applying the latest technological trends and Generative AI, together with our ecosystem of technology partners.

Opportunities

Generative AI to improve customer relations

Generative AI revolutionises the customer experience.

It can transform the customer experience in the insurance sector, offering more personalised, efficient and satisfying interactions. AI automates repetitive tasks, streamlines processes and provides relevant information in a clear and accessible way, enabling insurers to improve communication, transparency and trust with their customers. 

It generates controlled environments or Retrieval Augmented Generation (RAG), where the data with which the LLM models work is aimed at the needs of the insurer. Opportunity to streamline the customer experience across all products and lines of business, for example:

 

  • In Life: Customised chatbots: These offer tailor-made financial advice, answering questions about savings, investment and retirement plans in a clear and understandable way.
  • In Autos: Real-time damage assessment: Through image analysis, they speed up the damage assessment process, reducing waiting times and facilitating the rapid resolution of claims.
  • Home: Virtual assistants for repairs: They help customers find trusted professionals for home repairs, offering recommendations based on location, ratings and specialties.
  • Health: Appointment and treatment reminders: They help patients keep their medical appointments and treatments, improving adherence to therapies and management of chronic diseases.

New technological era

Innovation in technology such as Generative AI, Cloud, lowcode and digital twins will improve operations and cost efficiency, and will have a greater impact on the customer experience. Knowing how to apply it is key.

Prioritising the adoption of these technologies in areas of greatest business impact is the best option. In response to customer impact criteria in a highly competitive environment of operational costs and regulatory requirements. 

Opportunity to improve risk underwriting and control through smart devices and predictive analytics. 

Improving operations and establishing greater customer satisfaction by using Generativa AI in customer service apps. 

Adopting of cloud and lowCode app generation platforms to improve customer experience quickly and easily. 

Transforming mobility insurance services by reducing claims costs and meeting new customer demands is among other major opportunities opening up for the insurance industry.

OpenInsurance

In this digital age of insurance, almost all insurance processes are rapidly becoming digital and frictionless, including purchasing. The benefit of adapting to this dynamic is that we move from the need to “sell” people to buy insurance to introducing insurance that is ready to be “bought” seamlessly, as and when it is needed, creating a scalable and sustainable business model. Generating tangible benefits such as the creation of new revenue streams, expanding distribution channels and collaboration with third parties. Defining B2B2C models where the third party service/product incorporates insurance as a major additional value.

The OpenInsurance paradigm is the perfect framework for Embedded Insurancebusiness models, where technology is a necessary condition.

Therefore, providing cloud event architectures, 100% unified environments using DevOps methodologies and a data-centric vision, enabling the generation of new business opportunities.

Hyper-personalisation in insurance

Making the most of knowledge of customer behaviour to offer them personalised products and services.

The use of exponential technologies and the massive exploitation of data provide us with much more information on the needs and behaviour of customers, and therefore consider them as criteria or decision variables at different moments of their relationship with the insurance company, such as when deciding to take out a product, receiving a price simulation, receiving in communication, being attended to or compensated for a claim, etc.

Why Babel

+20 years

working with the Insurance sector

+30 active clients

Presence in 7 of the leading insurance groups

+ 400 industry consultants

Commitment to the talent available to our clients

Clients who trust us

Partners with whom we work

Contact Babel