ROBOTS FOR INSURANCE COMPANY
Nicholas Actuarial Solutions Sdn Bhd (“n-actuarial”) has achieved significant revenue and profit growth over the years and have built a strong infrastructure ready for future growth opportunities. n-actuarial is known as a leading actuarial firm in the ASEAN region, with a strong team of professionals, large profile of clients and our exceptional work quality.
The insurance industry is faced with industry revolution 4.0. There is a need for the insurance industry to transform into a fully automated, digital industry to remain profitable and relevant in the financial service industry in the digital era.
n-actuarial is a unique company that has accumulated profound technical knowledge in complex insurance processes such as actuarial, finance, risk management, product development, reinsurance, investment and compliance, as well as the know-how to apply cognitive robots with artificial intelligence (AI) into insurance processes.
With a growth and progressive mindset, n-actuarial has become a leading, growth driven actuarial firm in the region. n-actuarial is in the pole position to play the role of a key catalyst in the digital transformation of its clients in the insurance industry.
Insurance companies mostly have inefficient operations, encumbered by:
archaic & inflexible IT systems
overly complicated processes
lack of technical talent
poor conduct in salesforce
30% of insurance revenues i.e. $1.5 trillion per year are operating expenses of insurance companies.
High expenses results in:
Consumers paying expensive premium
Consumers cannot afford insurance
Reduced earnings for insurance companies
As a leading technology-based actuarial firm, we are in the pole position to build complex back-end operational robots.
Our solution can reduce the expenses of insurance companies by 17% or $250 billion annually.
We provide insurance companies with technology solutions for operational efficiency and cost reduction.
With the onset of industry revolution 4.0, technology is playing an ever-increasing role in the insurance industry.
The majority of work processes within an insurance company will become automated in the near future.
n-actuarial is the key catalyst in this digital transformation of the insurance industry.
Click HERE for the n-actuarial's Business Transformation Plan