By David Gallagher, SVP Marketing
I’m back at the 10th annual IASA conference and it’s been a good few days speaking to and learning the latest in P&C insurance technology.
Being here, it’s clear that top priorities for insurers are focused on growth and profitability initiatives. Regulatory compliance may not be on the top of insurers’ agenda but is a critical element of insurer profitability. The process of submission has traditionally been labour-intensive, slow and expensive. From my conversations with insurers at IASA, it’s a big problem they’d like help with.
The problem is, development of an accurate, timely solution is time-consuming, complex and uses many of the people you’d wish to deploy elsewhere. For many insurer’s implementing new core systems, they wish to use their resources on those projects, not regulatory reporting.
An easy approach to stay compliant and cut risk
At Hubio, our market-leading regulatory reporting solution offers carriers complete control over the reporting process, enhancing accuracy, saving management time and reducing operating costs.
We are partners with Guidewire to help carriers simplify the statistical/bureau/regulatory reporting process. The automation of the submission process, the reduction in errors, and the enabling of users to configure the system, combine to reduce costs and avoid deficiency fees.
Insurers trust in Hubio to automate their regulatory reporting process. Our solution is operational and proven with numerous insurers – trust a partner who has done it countless times.
My key takeaways from IASA 2017
1. Insurtech is not slowing down
2. True partnerships with vendors can solve many of the problems faced by insurers
3. 520 days in space sure helped Captain Scott Kelly deliver a fantastic keynote address