Personal and Commercial Insurance is a complex yet necessary industry; it offers coverage in the case of injury or damages to clients, ranging from commercial to property settings. For one technologically focused insurance expert named Bibin Krishna, helping personal and commercial insurers up-level their offerings and compete in a shifting environment is his specialty. Currently focused on Commercial and personal insurance, Bibin has spent his entire career introducing new technologies to a wide range of providers.
Covering five different initiative focuses, Bibin is an expert at the digitalization of core platforms, the digital enablement of customer interactions, boosting analytical capabilities, enabling cloud functionality, and offering innovation in a notoriously challenging industry. Though some projects require a combination of these focus areas while others only need one or two, Bibin's ability to adapt a solution to fit business needs keeps projects agile, effective, and affordable.
Building on core platforms, Bibin employs technology and quality engineering to streamline customer interactions and make them more comparable to some of the best customer service offerings that exist. Insurance processes, including making a claim or simply updating a policy, are known for being difficult to navigate, but with tools like chatbots, automated claims processing, and even artificial intelligence, customers can get top-notch service in even the most challenging situations.
Acting as the foundation for all further innovation, getting the core platform approach right is pivotal to enabling technological solutions for all insurance providers. It's not uncommon to see old, legacy systems that struggle to process the sheer amount of data providers have access to today. These systems can lead to data corruption, inaccurate claims processing, and an overall lack of downstream analytics. Much of Bibin's career has been spent implementing new core systems, migrating data, and boosting technological functionality that revolutionizes insurance business practices. In one migration project, he saved his client nearly $2 million every year just by getting the core platform where it needed to be.
Harnessing the power of prescriptive and predictive analytics is something insurance providers need to lock down if they want to compete in today's market. They need to be able to anticipate high-risk customers with more accuracy than ever before, get ahead of industry trends, and gain insight into what business moves will bring the highest ROI. Once the right infrastructure is in place, Bibin helps his clients understand and utilize tools that take analytics from backward-looking numbers to forward-facing predictions.
From a place of data maintenance, enabling cloud technologies is another challenge many insurance providers face. Bibin is a cloud transformation expert; by moving his clients from on-premise setups to cloud-based solutions, he saves them money, ensures data security and integrity, and reduces maintenance costs, directly impacting premiums end customers pay at the end of the day.
Throughout his decade-long career, Bibin has been thrown into different insurance settings, worked with countless clients, and provided customized solutions to meaty business challenges. He lets the tools and technologies shine while helping his customers learn how to utilize them, embrace change, and adopt a continuous-learning mentality. In each role and with each individual project, Bibin leaves a lasting legacy, reminding his clients of their own capabilities and inspiring them about what is yet to come in the insurance industry.