Solution brief | Insurance

Why Confluent is the insurance
industry’s on-ramp to innovation
Today, the insurance industry is at a watershed moment. Customer expectations have changed radically. New industry entrants
are offering premium digital experiences that cater to this reality, allowing customers to get instant coverage and responsive
support using any smart device. Not only does this digital-first mindset create a competitive advantage, but it also radicallyreduces operational costs.
To remain relevant in this new landscape, established insurance industry players need to embrace digital transformation, adopting an approach that centers on the customer experience. The “segment of one” lies at the heart of this paradigm, delivering
highly personalized, real-time communications and services powered by advanced analytics and AI technologies. This automatedapproach also allows insurers to reduce expensive manual paperwork and optimize overworked call centers.
Data lies at the core of this digital transformation. It’s the fuel that powers personalized customer experiences and services, advanced analytics, AI, and process automation. This data needs to be integrated and multifaceted, and it needs to be in real-time.

For many insurers, dataremains a challenge
While some insurers have already embarked on this digitaltransformation, others continue to struggle with data

“The Connection Platform is a game-changer

issues. Data is spread over many different legacy systems,for Generali. The data streaming solution weeach of which is a separate silo. There’s no easy way tobring this data together and even more difficult to dobuilt with Attunity and Confluent allows us tothis in real-time. At best, organizations extract data from

replicate and stream data – not in hours orsystems on a periodic basis using slow batch processing

days as in the past, but in a few seconds.”

techniques, leading to significant delays in data availability. When the data finally arrives at its destination, it’s
too late—the opportunity to engage the customer at theChristian Nicoll | Director of Platform Engineering andOperations, Generali

moment has already been lost.

Apache Kafka® and the power of event streaming
Event streaming breaks down data barriers between systems, allowing you to share information in real-time. It works
by integrating with your existing systems, automatically detecting data updates as soon as they occur—for example, whena customer requests a quote. It turns these updates into event streams that other systems then subscribe to, making data
available in milliseconds.
Apache Kafka is the world’s leading open source event streaming technology, and it’s already used by a growing number of
insurance industry leaders. It’s not just an integration platform. With Kafka, you can create complete event streaming applications that combine and analyze both real-time and historical data, allowing you to replace inflexible, high-cost legacy systems
and accelerate time to market.

©2020 Confluent, Inc. | confluent.io/insurance

1Solution brief | Insurance

What can event streaming do for you?
Event streaming allows you to digitally transform your business, driving increased customer satisfaction, reducing operationalcosts, enabling new types of product offerings. Here are a few examples.
Accelerate claim processing
Because event streaming makes data available
in real-time, you can eliminate unnecessary delays
and move towards a real-time claim-processing“Centene is fundamentally modernizing its leg-model. And, because event streaming brings

acy monolithic systems to support distributed,

together all of the information needed to processa claim, you can now do this automatically—for

real-time event-driven healthcare information

example, by using bots to handle low-value andprocessing. With Confluent Platform, Centene

low-risk claims. The result? You can process

improved their ability to interact and engage

claims faster, saving money and increasing
customer satisfaction.
Personalized premiums

with healthcare providers in real time.”
IT Manager, Centene

Event streaming also enables truly personalized
premiums—for example, premiums based on exercise activity or driving behavior. How? Event streaming allows you tocollect real-time data at scale from IoT devices such as vehicle trackers and smartwatches, and then analyze it withadvanced AI models to determine personalized premium pricing.
Customer 360
Event streaming breaks down internal data barriers, bringing all of your customer data together in real-time into asingle source of truth. This 360° view is the foundation for richer real-time customer experiences that drive customer
satisfaction and loyalty, allowing you to grow existing revenue streams and create new ones.
Predictive Support
With event streaming, you can give your call center agents a complete and up-to-date view of each customer theyhandle. This allows them to resolve customer cases more quickly and accurately, saving time and increasing customer
satisfaction. And, AI chatbots can use this same comprehensive view to provide automated service, deflecting calls andfurther reducing call center costs.
Event streaming also lets you generate accurate real-time reports to meet stringent regulatory Service-Level Agreements(SLAs). It can also be used to enable real-time fraud detection. And, it’s an engine for innovation, letting you modernize
your IT environment and accelerate development by moving to a microservice-based hybrid-cloud architecture that stillworks seamlessly with your existing systems.

Why Confluent?
Confluent was founded by the original creators of Apache Kafka. Confluent delivers a complete event streaming platform
for Apache Kafka, available as both self-managed software and a fully managed cloud service, and we complement it withKafka committer-driven expertise in the form of professional services, expert training, and enterprise support. We’ve extended
Kafka to create the truly secure, resilient and compliant event streaming platform that insurers demand.
However, don’t take our word for it. We have received Morgan Stanley’s CTO Innovation award, one of the very few companies
inducted into the JPMC Hall of Innovation, honored by Bank of America For Enterprise Technology Innovation, and winner ofCredit Suisse’s 2020 Disruptive Technology Recognition Program. We’ve also been selected Google Cloud Partner of the Yearfor data and analytics, achieved a top 10 ranking on Forbes Cloud 100.
To find out more about what Confluent can do for you, please visit confluent.io/insurance©2020 Confluent, Inc. | confluent.io/insurance

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