Manual insurance administration processes, complicated by disjointed legacy systems and disparate data, handicap insurance agents and brokers by wasting time and adding expenses that eat into profit margins.
The partnership will see the two companies leverage data integration and automation to streamline integration and insurance administration processes while simultaneously reinventing the way brokers, policyholders, and P&C insurers collaborate and connect. Under this agreement, Synatic, through its Data Integration Hub (DIH), extracts and integrates data from existing systems before consolidating appropriately and preparing it for easy ingestion by Ferro’s P&C policyholder platform.
Synatic’s data integration and Ferro’s ability to bring important policyholder information together in one place enables a consolidated view of client data, which in turn helps to drive customer centricity and improve business strategies.
Insurance has traditionally been a data-centric industry. Working with Synatic to push customer-centricity and digital transformation forward for the sake of all the stakeholders in the insurance value chain.