Brightidea for Insurance

Benefits for Insurance

• Increase productivity by finding and delivering new insurance products and services that meet demand.
• Collaborate with employees to identify opportunities and assess risks faster.
• Collect and leverage direct customer feedback to optimize offerings.

Insurance companies face increased pressure to reduce costs and push for top-line revenues while industry growth has slowed. Financial success is tied to accurate risk assessment and product offerings that meet growing consumer expectations. Traditional methods to increase profit margins in the past are no longer enough to keep up with the industry's changes and growing competition.

Truly innovative insurers recognize the huge potential of collective brainstorming and collaboration to identify new business opportunities and game-changing solutions while providing better customer support. Effective and easy to use, Brightidea's innovation management software enables insurance companies to collect, evaluate and execute on ideas from employees, and customers.

Employee Ideas Have High Impact

• Runs an enterprise-wide WebStorm system rolled out to all 32,000 associates worldwide.
• Collects ideas and commitments to drive improved performance in many aspects of the business.
• Realized millions of dollars in short and longer term cost savings with future campaigns in progress.

Increase Profit Margins

• Identify business opportunities that will boost revenues.
• Collect employee, channel partner and customer ideas to reduce costs, increase efficiencies and streamline processes.
• Leverage effective collaboration between subject-matter experts to assess risks faster and act on promising opportunities.

Improve Customer Loyalty and Retention

• Mitigate risks and shorten product time to market by soliciting early-stage customer feedback.
• Identify customer pain-points and gaps in coverage that you can better service.
• Collaborate across functions from customer service to claims adjusters and from marketing to partner management for lean, effective processes.

Manage Innovation and Measure Bottom-Line ROI

• Add key innovation metrics and financial projections to your innovation pipeline and track the business impact.
• Leverage employee ideas on all levels of your organization with scalable, flexible WebStorm communities.
• Easily manage, access and protect intellectual property rights.

Contact us today to see how we can help you boost productivity through best-in-class innovation management.