CRANFORD, NEW JERSEY - Paragon Solutions, an advisory consulting and systems integration firm, was invited to share insights on the digital transformation trends driving change in the insurance industry today.
Paragon's Senior Vice President, Advisory Services Erik Raper was featured in September 2016 by AIS Auto Insurance Specialists in a Q&A titled Expert Interview: Erik Raper on Protecting Personal Information in the Digital Age.
In the interview, Raper discusses digital trends and how insurance companies are attempting to improve customer experience. He also gives advice on how to keep personal information safe when buying insurance.
According to Raper, change in the insurance market today revolves around digital transformation and the Internet of Things (IoT). These are the drivers of the devices and trends the insurance industry is seeing in all facets of business and particularly in the way companies communicate with and sell to clients today.
"One of the biggest technological breakthroughs to hit the insurance market could come from the ability to provide customers with the option to talk freely to machines whose understanding of natural language is on par with that of humans," Raper states. "My opinion is natural language processing together with robotics and developments in AI collectively present the biggest potential for revolutionizing the very fabric of the customer experience in insurance."
In the wake of numerous data breeches, Paragon's Raper offered a perspective on what insurance companies have done to improve security. According to Raper, insurance companies today understand they need stricter measures, including classification, data mapping, and long-term digital preservation, as well as strict governance over the management of Personally Identifiable Information (PII) and Protected Health Information (PHI).
"Coordination among the many facets of information governance allows insurance companies to make effective use of all information, regardless of ownership and at all stages of the information life cycle, and ensures compliance," Raper cautions.
To review the full interview, click here.
About Paragon Solutions
Paragon Solutions is an advisory consulting and systems integration firm that specializes in enterprise information management to help clients leverage information assets for better business results. The company does this through its industry practices, solution accelerators and specialized technology competencies that help clients achieve operational efficiency, business scalability and regulatory compliance.
Paragon works with businesses that are focused in a few key industries − communications, financial services, healthcare, insurance, and life sciences. The industry-focused practices work with Paragon’s competency groups to address today’s client concerns in Process Optimization, Information Management and Information Integration.
For more information, please visit the Paragon website at www.consultparagon.com, or call 1.800.462.5582. On social media, visit Paragon on Twitter @consultparagon or Paragon Solutions on LinkedIn and follow updates from Paragon on Facebook.