Right now is a time of significant change for the insurance sector. Digital integrations and shifting consumer expectations are propelling the industry away from forecast models to dynamic exchanges that respond to real-time insights. 

Research by EY shows that clients want more usage-based options, while providers need to keep up with complex compliance, plus train and upskill to replace a retiring workforce. How will insurance providers thrive in a dynamic, digital world? EY identifies a core differentiator for success: human connection. A recent report tells us:

 “2.5X increase in likelihood of success for organizations that put humans at the center of their transformations.”

While the insurance sector should be doubling down on human connectivity, it’s also faced with an increasingly distributed digital-first workforce. To achieve positive outcomes, insurance providers need to adopt personalized, flexible, and scalable communication strategies that put humans first. 

“Insurers and brokers must equip their leaders and teams to be agile and purposeful in adopting hybrid ways of working.” – EY NextWave Insurance

This is where LumApps comes in. Our AI-supported intranet solutions function seamlessly for team members on the frontline, working from home, or at the office. We use leading-edge technology to power a human-centric work culture—there’s a reason we’re Gartner Magic Quadrant and Forrester Wave leaders. Better comms means better working; better working facilitates faster claims settlements and exceptional client care.  

Let’s take a look at the Top 5 Ways LumApps Can Equip the Insurance Sector for Survival.
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1.      Improving enterprise-wide communication

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LumApps drives communication across locations and teams with our rich, profile-driven solutions. Having the right channels to communicate with a distributed workforce isn't simply an issue of convenience; It’s a key business concern. 

With 80% of employees operating outside the office, effective internal communications that reach all employees is a priority for management and HR. Business leaders have seen the impact of poor communication at work, including decreased productivity (40%), extended timelines (37%), and increased costs (32%) – while as many as 42% of job candidates will not even apply if hybrid or fully remote options are not available. 

Specific to the insurance sector, McKinsey reports that in order to succeed, insurers need powerful communications; a “clear value proposition and risk appetite that are well communicated and understood internally and externally.” 

          Case Study 

Vilavi are experts in European insurance and credit brokering. Over 45 years the firm has served more than 500,000 customers. Vilavi wanted to improve its internal communication workflows and publishing capabilities across its multinational workforce. We helped them implement a company-wide, AI-supported intranet solution for its 1,800 employees. In the first two years, Vilavi intranet experienced more than 123,000 homepage visits, and connection times increased from 12 to 15 minutes per session in the first year. 

LumApps delivers unified employee communications with a strong information infrastructure and data insights. Focused, relevant, and targeted messaging fosters more meaningful connections between leadership and staff.

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2.      Enhancing data insights

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In a dynamic market, good data should drive decision-making. Similarly, real-time insights should inform workflows and communication initiatives. For the insurance sector, more effective processes mean a more diverse and satisfied client base. In order to survive, providers will need to embrace innovation: “leading with purpose to deliver client value.” The effective use of AI is an excellent way to do this. 

One example is how LumApps AI-powered intranet applies the power of data to drive a personalized experience for each employee:

• An employee data layer synchronizes information from various channels, devices, and applications across the business;
• The data is translated into a secure and holistic view of each employee;
• AI delivers the right contextual communication and experience to every employee across critical touchpoints. 

Over time, the system gets better at supporting individual staff and their unique ways of working – this reduces digital friction and app switching, always a welcome change. Meanwhile, better ways of working and having the right tools increase job satisfaction, which in turn supports productivity and employee retention. 

LumApps allows you to pull key data from insurance-specific business apps directly into your intranet and perform actions in those apps without leaving the intranet. This is done via micro-apps and our no-code development tool.

The insurance industry must embrace “digital-first strategists relentlessly focused on delivering innovative technology and data-driven solutions to take to market.” – EY NextWave Insurance 

Case Study 

Internal communication (IC) teams at Vilavi wanted to know which content was resonating with employees. But without access to statistics or data insights, they couldn’t determine what was being read or how long users were spending on any given internal page. 

LumApps intranet gives Vilavi IC teams access to rich data insights that help enhance the quality of internal communication and workflows. In January 2023, Vilavi had 18 active communities, 1550 active users (85%+ of staff), and +80,000 views of published content.

3.      Knowledge management and superior data security

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Nearly half of digital workers struggle to find the information and data needed to perform their jobs effectively. Better document management is one of the best ways to make sure team members can retrieve information quickly. Organizing critical documents in centralized digital repositories eliminates the risk of content graveyards – which take up a lot of real estate on legacy intranets.

To avoid content graveyards, LumApps helps enterprises perform regular content gardening so that teams know how and when to keep things fresh. It will provide platform admins and content managers with info on outdated, duplicated, or conflicting content.       

LumApps is also a resource for enterprise-scale data security and governance. As anyone in the insurance sector knows, personal information is subject to strict data privacy and protection rules, like Europe's GDPR. Organizations can create baked-in communication and best-practice procedures to protect sensitive data.

LumApps’ easy API integration and governance capabilities support robust security by:

• Giving individual employees access to secure information in one place and by utilizing existing logins and passwords.
• Controlling admin/user access to different sections of the intranet—files, pages, and areas of functionality—to reduce the chance of someone getting access that they shouldn’t. 
• Harnessing multi-device support so that critical information is accessible without being contingent on time or place. 

With LumApps, insurers can confidently deploy strong data management protocols, protecting sensitive client and company information from being compromised.

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4. Personalizing the employee experience

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Well-informed, contented employees serve customers best. Prioritizing the employee experience means streamlining workflows and making sure teams and individuals can easily access the information and resources they need to keep standards high.

Features like our personalized recommendations encourage team members with similar profiles and interests to subscribe to the same intranet-based communities. Because these recommendations use AI-powered organic discoverability, it’s easier for employees working out of different offices or across continents to find meaningful connections.

Forrester estimates that an engaging employee experience leads to improved performance and lower turnover, reducing recruitment and training time and costs. Read our Complete Guide to the Employee Experience.

With LumApps, every employee interaction—from onboarding to daily tasks—is personalized. The nexus for this is a customizable digital dashboard that instantly connects each employee to business-critical updates, corporate news, and relevant workforce conversations. This industry-leading interface is an indispensable personal companion for every member of your team. 

LumApps’ AI-powered personal assistant automates tedious tasks. It also makes it easier to tailor content recommendations, facilitate knowledge discovery, and streamline access via text-to-speech conversion and summarization so team members can listen while doing other tasks or while on the move.

5. Effective training, upskilling, and onboarding

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The growth of insurtech has increased the amount of specialized technology applications in the insurance industry – affecting everything from claims-cost management to underwriting. Firms need to make the right training and upskilling available to a hybrid workforce: finding and retaining top talent is a key indicator of a thriving, human-centric enterprise. 

“Workers should be trained and encouraged to focus on the highest-value activities.” – EY NextWave Insurance

Despite the need for tech skills, only 12% of the workforce claim to be “digitally dexterous.” Offering engaging, social, and gamified learning opportunities via an enterprise intranet is a powerful way for HR, comms, and IT teams to train and upskill new and existing employees. 

Case Study
Onboarding capabilities were a concern for Vilavi. HR wanted more than a printed welcome booklet to give to new hires – they needed a dynamic way to address pressing HR issues. LumApps embedded employee journey feature helps with the onboarding process, including mapping the steps of the integration journey so new employees can adapt more quickly; it also offers them the feedback and development opportunities they’re looking for.    

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Using LumApps, Vilavi implemented:

• Employee recognition programs including celebrations for corporate milestones
• An employee directory that encourages work bonds and mentorship
• A job offer portal on the intranet to promote internal mobility 

LumApps AI-powered intranet technology improves the distribution of critical information across devices and platforms and provides strong document management capabilities, enhancing secure information management and distribution. It enables internal and external stakeholders working across the insurance industry to communicate and collaborate while improving employee engagement and retention.

For more information about how LumApps Intranet can help you improve internal processes and the employee experience, book a personalized demo today.