5 Impactful Ways IPA is Disrupting the Insurance Industry  

The use of Intelligent Automation (IPA) in insurance is making big waves in a once archaic industry. By operating in a highly regulated environment with demanding clients, insurers advocate the introduction of artificial intelligence into their daily processes. 

To gain a competitive advantage, several insurers have already deployed an automation strategy in areas like new Business Processing, Claims Processing, and Finance. The insurance industry is currently intensively evaluating use cases for intelligent automation in order to increase the efficiency of current processes and thus reduce operating costs. 

According to McKinsey: “IPA can cut the cost of insurance claims processing by up to 30% and a large insurer could more than double profits over 5 years by digitizing existing business.” On that note, let’s quickly understand how IPA is disrupting the insurance industry.  

1. Digitally powering a changing insurance landscape  

The insurance market has become competitive and more robust in recent years with the arrival of online P2P insurers, technology operators, and insurance players. While digitization in the insurance sector is bound to create opportunities, it also presents new challenges for traditional players. 

With low-interest rate scenarios, the income streams of old insurance companies quickly dry up, as premiums from clients investing in different financial institutions do not pay the same returns as in recent years. In the future, these challenges may increase, due to the rapid pace of digitization and changing customer preferences. 

However, insurers who have taken the pulse of the digital revolution and innovated their products and value chain have grown. 

2. Analyzing operations and optimizing business processes 

The insurance industry is taking an approach where it holistically implements intelligent process automation more effectively to improve its performance.  

The whole approach is to analyze end-to-end operations and find new and efficient ways to use automation technologies to optimize business processes. The technology not only liberates the employees from the hassle of doing repetitive, paper-based tasks but focuses more on people-oriented tasks and helps in delivering personalized, top-quality customer service backed by complicated and real-time data profiles. 

IPA can be effectively utilized by insurance companies to scan photographs and analyze and clear damage or settlements in a more effective and quick manner. Nowadays, the use of high-end voice technologies can help bring down the insurance settlement error rates to about 6 percent (which equals that of an average human). The combination of voice analysis and image recognition technology can help an insurer reduce the challenges or complexities associated with adjusting and assessing claims. 

3. Addressing challenges faced by the insurance industry  

Insurance companies face multiple challenges in this increasingly digitized world. Here are some of the main hurdles insurers face: 

Manual Data-Entry  

Insurers suffer from tedious, prolonged, and tiresome activities like collecting and entering data which is done by humans. These processes are expensive, prone to inaccuracies due to human error, and result in slow response times.  

Accommodates Strict Regulatory Standards  

Operating in multiple regulatory jurisdictions, insurers must adhere to evolving rules regarding capital regulation, transparency, reporting, and interactions with clients. Insurance companies can face heavy fines and damage their reputation if they fail to comply.  

Legacy Applications and Miscellaneous Systems  

Insurers’ banking processes are heavily dependent on legacy systems and software. These programs can no longer meet the needs of modern customers and processes. Companies must invest a large part of their budget and resources to implement new technologies capable of meeting these requirements 

Scalability 

Insurers are subject to seasonal peaks which only become more difficult in the event of a large-scale disaster. Such spikes require the complaint process to be efficient and accurate when dealing with a large amount of incoming data.  

Increasing Demand for Better Client Service 

Today’s insurance customers are tech-savvy and have little patience for bad customer service. They expect transparency, customizable options, and fast response times and are ready to go around a large number of competitors in the market if their needs are not met. 

4. Deploying bots for rudimentary decisions 

IPA is already changing the way insurance companies operate. The bot’s hardworking workforce not only emulates repetitive, rule-based transactional and administrative tasks but also handles some basic decision-making levels. Experts in the human domain are therefore free to focus on more strategic tasks involving reasoning, judgment, and emotional intelligence.  

This digital workforce of bots is getting smarter with Intelligent Automation enabled by transformational technologies like Machine Learning (ML), Computer Vision, Artificial Intelligence (AI), and Natural Language Processing (NLP). Typical areas where intelligent automation makes a huge difference are: 

  • Policy Administration and Servicing  
  • Renewal Processing 
  • Claims Processing  
  • Underwriting 
  • Regulatory Compliance  
  • Process and Business Analytics 
  • Sales and Distribution  
  • Finance and Accounts 

5. Future-proofing the insurance industry  

With IPA in the increasingly sophisticated insurance industry, it will provide a cost-effective way to meet rapidly changing regulatory requirements and help businesses focus on long-term strategic issues. AI-based support can reduce documentation times by up to 80%, making insurance companies more profitable.  

Today’s businesses need to rethink how they want to use human potential and how much they can trust a computer to run their operations. In this way, one thing becomes clear: human contact will become paramount in the future, especially when robots will perform most of the repetitive and mundane tasks.  

Although high-frequency products are digitized and automated to a greater extent, it can be difficult to convert existing policies in this new field, it is not only a technological challenge, but the product must also evolve to meet the needs of current market conditions and regulatory landscape. Insurers will need to consider digitization from a broader perspective that includes product innovation, services, and business models. 

Conclusion 

Insurers can profit vastly from Intelligent Automation, and those who have already turned to automated solutions are already seeing the impact. By effectively planning and implementing AI solutions, businesses can transform their operations, reduce costs, increase employee engagement, and improve the customer experience. 

Futran Solutions has partnered with leaders in the industry (e.g. Automation Anywhere) to provide a solution that is rooted in domain experience, built on a solid foundation, and can be scaled incrementally. We specialize in AI and RPA technologies, however, we understand that the critical success factor for automation programs is the domain knowledge about the processes, and not only the technology. 

Futran Solutions has worked with insurtech start-ups as well as global insurance leaders to develop Intelligent Automation solutions for improving business processes. Our team has experience in creating custom automation applications that use visual recognition, machine learning, and other AI tools that simplify the management of routine tasks, whether it’s underwriting, claims processing, or customer experience. 

Futran Solutions is a Digital Technology organization focused on Data Analytics, Cloud, Automation, and New Age App Development. 

Futran Solutions is proud to announce Service Partnership with AWS

Futran Solutions has joined AWS as a Service Partner and will be focusing on its ‘Fit and Shift’ offering that is designed to maximize the value from AWS by leveraging native services.

In News: 

Futran Solutions is a Digital Technology organization focused mainly on Cloud Services, Data Analytics, Automation and New Age App Development has announced a strategic collaboration with Amazon Web Services, Inc. (AWS). 

Futran Solutions will be focusing on its ‘Fit and Shift’ offering that is designed to maximize the value from AWS by leveraging native services. Our approach lets you leverage the new capabilities that Cloud offers while preserving the value of your legacy investments. It includes selectively replacing components of your current application by ‘cloud managed’ components. 

The collaboration will enable deployment by making simulation workloads more user-friendly while offering scalability and flexibility with easy access to software and storage solutions from anywhere with a web browser. By leveraging connected ecosystem applications in a cloud environment, customers will reduce time to market, reduce costs, and innovate faster. 

By delivering deep visibility into AWS-hosted, on-premises and hybrid environments during every phase of a cloud migration, Futran Solutions helps leading organizations achieve their digital transformation goals with confidence. 

Futran Solutions gives AWS customers a unique blend of cloud software and services to support their business plans in addition to the Migrate, Run and Evolve services to help customers with their end-to-end AWS experience.

EZJobs announces unique employment support architecture for ITServe CSR initiatives

Edison (New Jersey) [USA], July 2 (ANI/PNN): ITServe Alliance has announced a partnership with EZJobs to help community members hire talent in the post-Covid employment ecosystem.

All community members can benefit from EZJobs for free as it is being offered as a part of ITServe’s CSR initiative.

ITServe Alliance is the largest association of IT business owners in the USA.

The Covid-19 pandemic, especially in its second wave, has wreaked havoc in many countries of the world, India in particular. The kind of disruption and utter chaos this has caused for numerous families is well-documented yet insurmountable.
News reports of one of the parents losing their jobs, putting the great burden of keeping the house fire burning on the partner have been particularly troubling.
Raghu Chittimalla, National President of ITServe Alliance mentioned that at this time of need ITServe Alliance has donated 20 ventilators and 200 units of oxygen concentrators.
Goutham Goli, National CSR director added that ITServe continues to support the needy during this pandemic by offering employment to candidates who have lost their jobs or lost the singular breadwinner of the family because of Covid-19 through member companies who have their offshore offices in India.
More than 18 months into the pandemic, the most deafening silence comes from job losers, who might have even lost their aptitude for an ongoing job hunt even as they suffer other devastations of the pandemic.
Amid all of this, the ITServe leadership has decided to contribute and give back to the community in partnership with the digital recruitment platform, EZJobs, where candidates can post their resumes and connect directly with IT business owners.
Speaking about the collaboration, Jyoti Vazirani, co-founder of EZJobs and PR Director of ITServe, laid out how this works for job seekers: “The job seekers can post their resumes by clicking the link where they will be connected with the member companies.”
“From there, member companies of ITServe will be able to view the profiles of these candidates and invite them for employment – part-time and full-time opportunities,” Jyoti added.
The EZJobs candidate portal for ITServe community members is open and actively functional at the time of release.

About Futran Solutions

Futran Solutions is a Digital Technology organization focused on Data Analytics, Cloud, Automation, and New Age App Development.
This article was originally published On Business Standard.

Revolutionize Your Workplace With These 13 Simple Steps

Revolutionize Your Workplace With These 13 Simple Steps

We live in a constantly evolving world, searching for new ways to motivate ourselves to achieve more and improve the quality of our lives. It is ideal to find the right balance between work and personal lives to grow on both fronts and a well-designed, motivating workplace that makes employees feel at home, with a brisk environment and good interpersonal relationships plays a significant role in doing so. Your workplace is the cradle for all new ideas, innovations and creative inputs that can usher your work processes and overall productivity to its zenith and it is essential to pay attention to developing a congenial atmosphere for your teams to work. Here are a few simple ways by which you can revolutionize workplaces to further your success.

Interaction and Reiteration

Companies and enterprises often experience periods of a lull in between periods of continuous activity and intense work. It is necessary to maintain the morale of your teams during these lull periods and ensure they stay focused. Address your employees regularly and motivate them to work proactively by reiterating your objectives and goals to keep everyone on track and efficient. Customize your workplaces to design an open environment that motivates interaction among colleagues and superiors to ensure no gaps in communication or tension between them.  

Recreation Zones

Develop strong habits and activities that engage all your employees and organize stress-busting activities regularly to keep them relaxed and rested to focus better. Companies have shifted from conventional office spaces to employee-friendly spaces that have improved employee perception, reducing workspace related anxiety and stress. Office spaces with recreational zones like gaming zones, music areas etc. allow the employees to lay back after stressful assignments and take fun breaks in between their tasks. It also improves the morale of your teams and develops a sense of bonding and camaraderie between your teams. 

Acknowledge Performance

A healthy competitive spirit can go a long way in improving the performance of your employees and push them towards enhancing their efficiency. Recognize good performance from your employees and credit them for it to encourage their involvement and dedication. Many office spaces have various small rewards for their employees like the best employee award, Go that extra mile award, customer-friendly employee award etc. These awards are small incentives that help employees and superiors track their performances, helping them identify their shortcomings and working on improving them. 

Efficient Onboarding

The first impression is the best impression and it is essential to create an exciting experience for your employees as they join your team. Fresh employees are highly optimistic about joining new job positions and look forward to developing a good rapport with their colleagues and your workplace should be welcoming to them, allowing them to acclimatize better. Dedicate time and efforts to ingrain the values and objectives of your company and emphasize the value of their role in the enterprise. 

Career Growth and Professional Development

Focus on the holistic improvement of your employees and motivate them to chart out career plans for their growth. Most employees lack proper guidance and direction in ways to improve their careers and require intelligent mentorship by experienced professionals who can analyze their areas of strength and weaknesses. Your workplace should continuously evolve to incorporate new advancements in software and technology, encouraging employees to explore and learn more about them, helping them stay updated. 

Employee Health Benefits and Ergonomics

The physical and mental health of the employees plays a significant role in developing a good work atmosphere. Develop a health-friendly office space with features like ergonomically designed desks, wellness rooms for stretching or meditation, plants, adequate ventilation, natural lighting etc. to keep your employees active and healthy. Well-designed chairs and desk spaces help prevent strain accumulation in the neck and joints, ensuring the long-term health and safety of employees.

Vibrance

Colourful work environments boost the happiness and creativity of your employees as they define different zones of your workplace. Futuristic work environments with vibrant colour and illumination with a modular outlook increases the longevity of workspace investments. Intuitive concepts with abstract colour designs like quiet zones, collaboration zones, privacy pods etc., help employees of different attitudes and mindsets find their areas of comfort.

Sense of Security

Employees need to feel safe and secure in their office spaces to work without anxiety and stress. Protective surveillance systems with smart CCTV cameras tracking the entry and exit of people into your office and storage spaces helps protect your employees and assets. The incorporation of advanced security systems in your workplaces reduces the costs and manpower requirements for security purposes in the long run, with extra perks like temperature tracking, license-plate tracking in parking lots, nighttime surveillance etc. 

Flexibility and Freedom

Hierarchy based workspaces with rigid timings are slowly getting replaced by modern systems with flexible schedules that provide flexibility and freedom to the employees. Eliminate micromanagement by allowing employees to take responsibility for their tasks and assignments to be submitted within the deadlines. It improves transparency and trust between colleagues and superiors, crediting the progress of work done by the employees based on their quality and punctuality. 

Conclusion

Well-designed workplaces play a significant role in improving the efficiency and performance of your employees. Follow these simple steps to achieve harmony in your workplace as you progress towards your goals and objectives.

11 Workplace Improvement Ideas That Every Employee Wants to Give Their Employers, But Doesn’t

Workplaces are complex environments with a constant flurry of activities that keep everyone on their toes running behind their tasks and objectives. Employees often imagine innovative ways to develop their workspaces but do not enjoy the liberty to share their ideas with their superiors. Advancements in science and technology have brought about a great revolution in workplace designs with an increasing focus on developing employee-friendly workspaces to improve the efficiency and performance of employees. It is essential to consider the suggestions and ideas of employees to build a high-performance workplace that optimizes their performance. Here are a few workplace improvement ideas that will significantly improve the efficiency of your employees to reach their potential.

Recreational Zones

Most companies and enterprises often have stressful work environments with employees working extended hours to meet their objectives and tasks. Incorporation of zones of recreation in the office spaces help employees bust stresses in between their tasks and work efficiently after their breaks. 

The recreation zones consist of various fun activities like board games, indoor sports, music areas etc. that meet the diverse interests of different employees. It helps build a sense of togetherness and bonding amidst your employees that can improve trust and communication between them.

Offer Career Development Prospects

Employees look out for mentorship and guidance as they set out to shape their career paths and grow in their careers and personal lives. Dedicated employees focus on upgrading their skills and show immense interest in learning new and interesting aspects of their careers that could help them grow. Companies should organize regular training modules to improve the knowledge of their employees and keep them updated about recent developments and advancements in their fields. Providing opportunities for education and improving their knowledge also helps in retaining the employees in the companies, and putting their skills to efficient use. 

Focus Teams and Collaboration

Companies and enterprises operate with multiple teams of employees handling the different steps in the work processes independently to produce the final product. Lack of well-established channels of communication between the teams often leads to decreased efficiency and defects in the quality of the final product. Focus groups and collaborative meetings between the different teams of employees will help analyze different ideas and methods proposed by the teams that will best suit the design of new projects. Enhanced communication and interpersonal relationships between different teams of employees improve the overall performance and quality of the products and services provided by the companies.

Technological Advancement

Employees regularly update themselves with modern advancements in their fields and sectors and find that the equipment and software available in their companies are outdated and inefficient when compared to them. They look forward to working with new software tools and platforms and wish to work with them to improve the quality of their services with the ease and comfort that accompany them. It allows your teams to finish projects at a faster rate and reduce the turnover time, improving customer service and satisfaction. Employees also show interest in attending educational courses and hands-on sessions on the modern tools to improve their knowledge and skillsets and better enable them to use them in future projects.

Feedback and Suggestions

Employees face a lot of obstacles and difficulties in their work processes and the impact it has on their personal lives. They come up with different suggestions and innovations that can help them find the ideal balance between their work and personal lives but are often unheard of as they do not have a proper platform to convey their ideas. Regular meetings and assemblies should be conducted to provide an opportunity for the employees to voice out their concerns and suggestions to improve the quality of their lives at work. This also helps gain a consensus regarding employee acceptance of different ideas and suggestions to help prioritize the changes.

Social Events 

Social events and gatherings help bring employees together and provide them with an entertaining escape from their busy work lives. These social events allow employees to meet the families of colleagues and office staff to improve the quality of relationships between them. Employees from different cultural backgrounds can celebrate festive occasions with their colleagues and share their happiness with them. These social events can improve employee engagement and retention by diffusing the tension between different teams of employees and keeping them happy.

Appraisals and Insights

Employees’ performance should be analyzed regularly and critically evaluated to provide valuable insights on how they can improve their skills and performance. These appraisals can help track the growth and progress of the employees from their time of onboarding to their current position in the company. Proper guidance and insights regarding their performance and how they can improve their skills help channel their growth efficiently to boost their results. 

Conclusion

A good cordial relationship between the employees and management is essential to develop a congenial atmosphere for the growth of the company. We need to adopt new ideologies and trends to the work process to improve the efficiency of employees and keep up with the growing competition. Employee suggestions are often overlooked by seniors and management teams resulting in unhappy relationships that strain the office dynamic. Follow these simple steps to improve your workplace and create a highly productive environment for your teams to work peacefully in.

5 Ways You Can Reinvent Your Skills for Virtual Meetings Without Looking Like an Amateur

The COVID-19 pandemic is having a huge impact on our lives, affecting all the fields and sectors of our lives like Education, Finance, Employment etc. setting us back a decade. Progress in science and technology have provided a helping hand for us, allowing us to resume our lives digitally without any inconveniences. Virtual meetings in online platforms like Zoom, Cisco Webex, Microsoft Teams have become a regular part of our work processes with meetings held regularly to track the progress and growth of employees towards their targets. It is necessary to revamp our skills to better suit the digital world and improve our efficiency to adapt to the changing trends. Here are a few ways by which you can reinvent your skills to meet the growing needs of the digital world.

 

Introduction

The pandemic has ushered us to the digital age with the development of new applications and software platforms to allow employees to function efficiently and meet their targets. Planning and scheduling of activities happen in online platforms and content management systems that help in organizing and tracking them efficiently. Here are a few ways to reinvent your skills to suit the virtual world and meetings professionally. 

 

  • Upgrade Your Devices: 

Invest smartly in devices like laptops and smartphones to empower your skills and improve your work efficiently. Get familiar with using the devices and start collaborating with your colleagues on the digital workspaces to engage with them efficiently. Technical expertise with the devices often saves plenty of time in learning new applications and software platforms giving you an edge over the competition.

 

  • Interpersonal Communication:

Improve your conversational and communication skills with people on digital platforms to engage participants online. Various sectors like sales and marketing, finance, business, education etc. often require frequent meetings to continue efficiently. Good vocabulary and confidence while speaking often improves the quality of the presentations and allows you to produce a significant impact on the viewers. 

 

  • Applications and Software: 

Stay updated regarding the new applications and software that come up to simplify your work processes. Various application developers have focussed on making interesting and unique applications to allow easy collaboration of employees in digital environments. Content management systems and online modules help chart out activities in proper order to get the employees oriented towards the common goal for improvement. 

 

Applications like Teamviewer and Zoho Assist allow employees to access devices remotely and collaborate with their team members without inconveniences. Acquire adequate knowledge about these applications as you venture out to address virtual meetings to suggest and utilize innovative solutions to existing problems. 

 

  • Virtual Meeting Etiquette: 

Get familiar with the right etiquette to follow for virtual meetings and conferences to ensure smooth proceedings. Virtual meetings are new to many of us and we might not be aware of the exact etiquette to be followed in the meetings, which makes it essential for us to learn it and behave accordingly. Ensure you are properly dressed for the meetings with prior checking of the video and audio components in your devices. 

 

Modify the presentations to better suit the nature of the meetings and design it innovatively to keep the participants focussed on the meeting. Muting and unmuting audio components is a prime concern for most participants unfamiliar with the muting platforms as they often end up interrupting the speakers and participants due to background noises. Be punctual to the meetings and inform the participants about the starting time of the meetings well in advance of the meetings to ensure that time is not wasted in these events. 

 

  • Online Courses and Camps:

  • Various companies and enterprises have developed training camps and courses for their employees and teams to improve their knowledge and skillsets during the pandemic period. Join such camps and virtual conferences to boost up skills and improve your understanding of various technical and non-technical aspects of your work processes. They also give you a fair idea of the nature of advancements that are happening in your field and broaden your thinking and ideas regarding your field.

 

Conclusion

Continuous, dedicated efforts are required to stay ahead of the ever-growing competition in our goal-oriented world and the pandemic has spoiled the well-designed work environment we have constructed for ourselves. It is time to reconstruct our work processes and digitize them to ensure rebound to growth and economic stability. Explore the digital world and reach out to people through online meeting platforms to resume work and progress. Virtual meetings are a rapidly growing trend that will soon replace physical meetings due to the ease of conducting and participating in them.

5 Reasons To Choose No-Code Platforms For App Development In 2021

The growth of science and technology has propelled our transition to digital landscapes, keeping us on our toes as we struggle to keep ourselves updated on the latest advancements and innovations in different fields and sectors. Smartphones have transformed from luxury commodities to bare necessities to survive and function efficiently in a highly competitive environment. Mobile applications have simplified life for us, bringing the world within our grasp, providing us unfettered access to a wide variety of services and products. 

 

The growing demand for mobile applications has made it a lucrative area for growth and expansion and digital companies are investing to tap its potential. The development of No-code platforms for designing mobile applications has enabled companies around the world to work on developing mobile applications without having to employ professional coders who charge exorbitant prices for their services. 

 

Here are a few reasons that make No-code platforms the ideal medium for application development in 2021:

 

Fast Turnaround Time

No-code platforms improve the work efficiency of your design teams and allow them to deliver high-quality products within a reduced time frame, attracting new assignments and clients. The incorporation of no-code platforms provides users with a drag-and-drop model allowing them freely explore the software and design intelligent applications of high quality and standards. It allows for design teams to work with multiple projects at the same time without having to write every line of the code to make the application. 

 

Use of Internal Resources

The use of No-code platforms eliminates the need for hiring professional coders to work with your teams and design mobile applications. The advent of Rapid Mobile Application Development platforms has enabled companies and organizations across various fields and sectors such as Finance, Banking, Healthcare etc.  to design their applications without external assistance and develop customized applications for their use. The ease of use and freedom offered by the no-code platforms makes it preferable to collaborating with professional coders.

 

Adaptability and Ease of Use

The use of no-code platforms allows application designers to make modifications and changes with their applications without having to change much unlike coded platforms where even minor changes like the application will require many changes in the coding of the application. No-code platforms allow for streamlined application development processes and help clear backlogs, proving to be beneficial for companies in a state of constant flux and changes. Designers can make changes in the applications at different levels of the interfaces without having to worry about potential bugs in the application.

 

No-code platforms improve the scalability of financial institutions as they can use previous versions of the software to build on and improve the functionality of the software. The mobility offered by the application and access from different devices with internet connections proves highly beneficial for customers on travel. 

 

Cost-Effective

The use of No-code platforms reduces the time involved in the development of the applications and cuts down on the expenditure of time and resources for the same. Cloud-based software applications eliminate the need for servers and maintenance, allowing companies to gain access to the services without spending much for them. This allows companies to re-route their expenditure to other areas of requirement, improving the overall productivity and value of the company.

 

Lower Risk and High Return of Investments

Low risk and High Return of Investments (ROI) make no-code platforms the ideal solutions meeting the needs of growing companies and organizations. The reduced cost of owning the software ensures the return of investment within shorter periods. Any failure in the application will also not affect the company significantly as there are not many resources invested in making the application when compared to conventionally coded applications.

 

Various companies such as Futran Solutions offer stable no-code development platforms for companies to capitalize on and develop customized applications for their needs. Their client-centric, agile platform coupled with the robust API development wing make for a formidable combination that can help your design the best application for your company. Companies in the financial, banking, healthcare and life sciences sectors can begin their transition to no-code platforms under the able guidance of such efficient platforms assisting them through their digital journey. 

 

Conclusion

No-code platforms have been displayed a plethora of advantages over conventional platforms with the flexibility and freedom they offer, greatly boosting their demand. Companies are looking out for efficient partners to initiate the digital transition and get their employees trained and accustomed to no-code platforms for designing applications for their companies. No-code platforms do have a few inherent disadvantages but the huge number of advantages associated with them make them preferable to conventional systems. Get on board with Futran Solutions and explore the world of No-code platforms to design high-quality applications for your companies at optimal prices.

 

 

8 Major Medical Industry Offerings Affecting Every Global Citizen in 2021

The medical field has gained huge prominence during the pandemic, with hospitals and healthcare organizations in developed and developing countries suffering from huge workloads and resource deficiencies. Advancements in technology and communication have provided great assistance in relieving stresses for the medical industry, helping them function with great efficiency. The modern advancements in these fields have propelled the medical industry to handle the crisis better improving the living standards of people across the world. Here are a few of the major medical industry offerings that have impacted the lives of people significantly:

 

Clinical Data Management

Clinical data management has played a great role in understanding the COVID disease and developing effective countermeasures against it. It facilitates the generation of valuable, reliable data from research trials and patients undergoing different treatment protocols. Software platforms help collect and organize the data efficiently improving the reliability and sequentially the value of the collected data, enhancing the scope for good research. They are programmed to simplify the entry of data for medical professionals and allow researchers to interpret the data efficiently.

 

Validation

Software applications have assisted hospitals and medical device manufacturing companies in the validation of their work processes and new medical devices to mitigate the risks associated with them and keep them to a minimum. 

 

Software assisted validation helps organizations stay compliant with new regulations that are imposed in their industries by designing detailed checklists for them to follow. It simplifies the processes involved in risk management and helps document the changes made for future reference.

 

Pharmacy Benefit Management 

Pharmacy Benefit Management software helps regulate drug prescription and regulation of drugs. They interact directly with individual pharmaceutical manufacturers on behalf of insurance insurers and play a key role in controlling the drug-related expenditure for patients as they determine the cost of the drugs, discounts offered for them and those that are covered under insurance plans. PBMS assists organizations in designing and implementing tests to evaluate benefit programs and conduct benefit analytics to offer valuable insights that can improve work processes and offer flexibility to reduce setup and maintenance requirements.

 

Clinical Tasks

Software advancement has also simplified work processes for clinicians burdened with long work hours and data entry work during these trying times. The incorporation of efficient software for assisting the clinicians saves ample time and allows them to focus on addressing the health issues of patients. The software can help doctors in hospitals and health care organizations communicate efficiently, allowing pre-scheduling of priority cases and authorizations in cases without having to wait for hours for the same. This comes as a great advantage in high profile hospitals with huge patient flow and in small scale healthcare centers that are understaffed to manage workloads. 

Publication and Regulatory Services

Software solutions provide valuable assistance in research and publications for different fields such as pharmaceuticals, biotechnology, medicine etc. supporting these projects and researchers to perform their studies efficiently. The incorporation of AI in research has improved the scope of research and helped them achieve better results while reducing the expenditure of time and resources for the same. 

 

Growing safety concerns across the world regarding the safety of drugs and equipment has emphasized the importance of regulatory services and software applications have a role to play there too. They can help ensure that the different products and drugs manufactured by the companies comply with new safety rules and regulations which vary from one country to another. 

 

Drug Safety

Pharmacovigilance is an important area of work in pharmaceutical and medical companies that holds great significance in ensuring drug safety and regulation. Software solutions help companies operationalize new data sources and use them efficiently in resource-constrained environments. AI has found diverse applications in drug safety software as it helps collect, organize, understand and present data obtained from different sources efficiently to produce reliable conclusions.

 

Medical Writing

Medical writing is an integral part of the work processes in hospitals and organizations ranging from reports and research material to journals and magazines. Software applications offer assistance in medical writing through tools for word referencing, PDF processing, spell checkers, speech recognition etc. helping writers handle audio transcripts and recorded sessions. They ensure that the data written is statistically sound and of good quality to pass correctional review boards.

 

Statistical Management

Statistical management is a chief requirement for medical organizations and hospitals to handle clinical, research and financial data efficiently. Software applications offer pre-designed frameworks that help companies organize their data efficiently and analyze them for better interpretations. Various tools present in the software help analysts make detailed models for better comprehension of data and sharing of information.

 

Role of Companies in Digital Advancements

Technological and software advancements help medical institutions and companies gain an edge and work efficiently without the expenditure of much resources. They find difficulties in upgrading and implementing the advancements in tools and often require assistance for the same, which is offered by companies that help them bridge the gap between health and technology.

 

SG Health Pharma is one such company that has extensive experience in the field of healthcare with abundant resources and tools to guide and assist organizations to optimize their digital functioning. It offers a variety of services for healthcare institutions at optimal prices allowing them to choose freely and upgrade themselves to function better.

 

Conclusion

Innovation and creative advancements in technology are revolutionizing work processes in all sectors and the health care sector is no exception. Companies need to adopt these new tools and rise to the growing demands and competition.

 

Talent Solutions in Pharma Industry

The pandemic has slowed down business in companies and organizations across the world irrespective of the nature of work and scale of operations, causing layoffs and financial crises. A few fields have been immune to the detrimental effect of the pandemic and have rather benefited from its occurrence than suffer because of it and the Pharma industry if one of them.

The pharma industry has grown leaps and bounds during the pandemic period, expanding its services and its customer base and reaching out to new clients. Most pharma companies are scaling up to meet the rapidly growing needs of our population and are looking forward to employing new additions to their team in various designations.

Here are a few insights on how pharma companies are scouting out new employees for their teams.

Introduction

Healthcare and Pharmaceuticals are two sectors that have expanded the maximum during the COVID period to meet the rising surge of cases and come up with a vaccine for the disease. The expansion of companies in these industries has led to increased job opportunities for people in these sectors and also created a demand for training modules to bring in the new employees and get them up to pace for deployment.

Various companies like Futran have set forth to assist companies during these desperate times by helping provide training and placement for in-demand pharma industry job profiles allowing the fast expansion of resources to face the pandemic.

The use of digital solutions in education and training purposes has found great success as it can cater to a large group of people at the same time without the restriction of time and classroom boundaries.

Interactive digital sessions help improve the interest of participants and motivator them to focus on the learning session for better grasping and comprehension.

Advantages of Using Digital Platforms for Online Training

Online training modules and courses help trainees attend their modules from the comfort of their homes without having to travel about. This has played a positive role in the pandemic period where trainees could stay safely in isolation during their training periods without risking cross-infection.

Digital modules for various pharmaceutical profiles involve the creation of data and structuring the content to make informative sessions for easy comprehension of trainees. Here are a few advantages of using digital platforms like Futran for training employees.

  • Cloud Computing

Cloud Computing in pharma industry

 

The establishment of online platforms that can be easily accessed from all devices greatly improves the mobility and reach of the applications. New classes can be easily uploaded in the cloud platforms and trainees can also go back to the previous classes as data is stored in a highly organized manner in the cloud systems.

  • Interactive Dashboards

Interactive Dashboards in pharma industry

These digital platforms come with interactive dashboards that help the trainees keep track of their progress and growth during the training sessions. The various tools that are present in the dashboards help trainees analyze their performance in online classes and communicate with the organizing teams using the dashboards, providing transparency in communication.

It also helps in reaching out to the candidates easily and ensuring that they are constantly updated about information regarding the classes. Onboard analytical tools can also help the organization track the employee’s response to the training program and help perceive the individual abilities of the employees.

  • Online Simulations

Online Simulations in pharma industry

Simulated online training can be facilitated for trainees on digital platforms to allow them to face real-life situations efficiently. The pharmaceutical industry is a highly demanding field that does not have much scope for errors as it involves the safety and health of patients.

Online simulations of various situations can help better prepare the trainees for different pharmaceutical profiles.

Pharmaceutical Industry 

The most common profiles in the pharma industry are that of Pharmacists, Clinical Pharmacists and Sales representatives. The use of digital platforms helps simplify online training for new employees and allows faster deployment of trainees in the field without losing much time in training.

The industry is on the lookout for employees with knowledge on machine learning and artificial intelligence that can be used in Cell and Gene therapy research and digital platforms can be used to provide new employees with a basic idea on these concepts for them to build on and improve.

Conclusion

The contribution of the internet and technology in online training and education has greatly increased in recent times. Digital enterprises like Futran are making it easier for the online training and deployment of employees ensuring fast and efficient training. Digital platforms come with a wide range of advantages making them the go-to choice for training exercises and modules. The future of learning is on digital platforms as they are evolving to become the most efficient and cost-effective mode of education.

 

 

Artificial Intelligence In Telecom: 5 Groundbreaking Findings Shaping The Future

It doesn’t take much research to know that telecom is one of the most consumer-hated industries. Out of the blue, this tells us two things about telecom in general. One, people need telecom. And two, telecom sucks at expectation management. In comes artificial intelligence. Like with every other industry that it’s touched, AI has come to telecom riding atop a pedestal of promises. However, Artificial Intelligence in telecom has been playing a vital role in the IT industry.

As it turns out, AI is delivering the goods in the telecom sector. Most importantly, every telecommunication company worth its salt is turning to AI to augment user experience and improve network reliability. Then, there is a whole new avenue of predictive maintenance. AI is kicking in big time to predict (and correct) faults and failures before they surface. Most experts believe that’s just the surface of what AI can do in telecommunications. Combined with machine learning, AI can help revolutionise the telecom sector for the better.

Here are five big ways artificial intelligence and machine learning are transforming the telecom sector right before our eyes:

5G Made Accessibility Easy

The US, the UK, and Korea have already rolled out their 5G accessibility in 2019. 5G guarantees greater bandwidths, higher speeds, and greater privacy. However, these additional features were not possible in previous generations. 

Meanwhile, artificial intelligence in the 5th generation has improved accuracy. It has enabled new connectivity and also enhanced layers of security at a fundamental level. Likewise, Artificial intelligence and 5G working together play a very powerful role in the new generation.

The Process of Systems Working Together 

MWC19 was an event organized in Los Angeles. It stands for Mobile World Congress. It was held from 25 Feb 2019 to 28 Feb 2019. That is to say, because the main theme of this event was mobile interoperability. This comes under system convergence.

IT Systems works on different standardized languages. It is impossible for two systems to communicate without using different dialects. To figure out what comes next, we need to step in and simplify it for humans to understand.

Data Organization

After the interoperability of the systems, AI plays a vital role in organizing the data.  Most importantly, standardized data is anyway more impactful. On the other hand, Artificial Intelligence reviews large batches of data and organize it in a way that is understood easily. Similarly, this helps in making better-informed business decisions.

Integrated chatbots and voice recognition are some examples of AI used in data organization. Similarly, it has become popular because of more time allotted to human interaction and discussion than standardization. 

Personalizing the experience

Meanwhile, the data is organized, it should be efficient enough for the business world. How does it help the telecommunication industry? Moreover, AI proves to be instrumental here as well. 

Personalization of services based on user preferences are on the cusp of breaking into the telecommunications scene. Identifying the user’s behavior and preferences and enabling personalized services is the forte of AI.

Customer satisfaction

Firstly, the usage of AI has cut expenses to a great level. Chatbots and virtual assistants automate to these support requests. They can handle a bulk of such requests without human involvement.

These virtual assistants automate the requests, analyze, and escalate customer queries if necessary. AI helps in identifying sales. Similarly, it also alerts the customer about other products and services. Keeping a track of all of this, AI improves customer satisfaction.