Insurance and financial services leader rapidly migrates to AWS to unlock data-driven insights, automate processes in the cloud, and deliver new digital services to millions of customers
Nationwide’s rapid move to the cloud is accelerated by AWS Enterprise Next, a program that pairs AWS experts with customer teams to create a long-term plan and key milestones to drive a company’s ongoing digital transformation. Through this 15-month engagement program, AWS experts and partners are working with Nationwide to create an on-site, cross-functional team to modernize Nationwide’s applications, IT environment, and operating practices. AWS Enterprise Next has already helped Nationwide build more than 60 applications in the cloud, including its Nationwide Small Business Advisory platform, an online experience that uses machine learning services like Amazon Textract (a machine learning service that automatically extracts text and data from scanned documents) to pull data from scanned forms and documents to automate the underwriting process for small business owners. In addition, the platform uses AWS’s machine learning-driven personalization service, Amazon Personalize, to tailor personalized insurance policy recommendations to small business customers in minutes. This is rapidly speeding up the time to get new policies into the hands of customers, providing greater assurance to small businesses, where insurance coverage is vital.
Leveraging AWS gives Nationwide the ability to introduce new resources like enhanced mobile applications and self-service financial planning, to customers much faster, getting these new ideas into the hands of customers in days, as opposed to the months it took previously. AWS analytics is also helping to reveal new insights related to application usage patterns, business trends, and customer preferences, allowing Nationwide to empower independent agents and financial professionals to make better, more personalized recommendations to customers based on the financial and insurance resources available. Going forward, Nationwide will also use Amazon SageMaker, AWS’s service for easily building, training, and deploying machine learning models quickly at scale, to help its data scientists enhance their performance in areas such as marketing analytics and risk assessment to accelerate the company’s life insurance policy processing.
“Our customers’ needs and expectations of how their insurance partner supports them are evolving rapidly and AWS has given us the agility that we need to quickly innovate and provide new services, while delivering the security, reliability, and performance that customers have come to expect from us for more than 90 years,” said Jim Fowler, CTO at Nationwide. “AWS has helped us move to the cloud quicker than we ever imagined possible, and their unmatched portfolio of services is transforming our business. AWS gives us the ability to reach new digital audiences who can access and consume our services through a variety of channels, and empowers our associates with next-generation tools and insights to enhance our customer service.”
“Combining Nationwide’s financial expertise with AWS’s proven performance and unmatched portfolio of services is enabling them to deliver powerful new financial tools to help them stay ahead competitively and remain a leader in serving customers,” said Greg Pearson, Vice President, Worldwide Commercial Sales at AWS. “Leveraging AWS, Nationwide can innovate and deploy new solutions while they are streamlining their business operations and processes on the backend. By building and running their most strategic platforms on AWS, Nationwide is positioning itself as a leading choice for life insurance and financial services for years to come.”
Source: Company Press Release