By creating the right team, evolving to straight-through processing with discrete goals, and mandating microservices, an insurer can create a powerful roadmap for digital transformation.
Leadership during business as usual is a driving force; leadership during times of great change can be the difference between gaining competitive advantage and becoming obsolete.
An enterprise approach to connected insurance requires an IoT platform that can help insurers improve risk assessment and pricing, claims management, and customer management.
Consumers today are less interested in complex ways of customizing their coverages and more interested in fast issuance. In effect, what they want is what they have always wanted: a quick and easy way to get themselves and their loved ones insured.
Major insurance brands may not disappear anytime soon, but their dominance and longevity can no longer be taken for granted.
While outsourcing may not be the solution to every problem, transitioning to a system designed for today’s investing climate can help mitigate risk, increase efficiency and alleviate significant sources of operational pain.
Insurers that succeed in delivering ‘delightful digital experiences’ stand to reap the rewards of increased customer loyalty and profitability.
Questions to ask to best take advantage of new technology approaches addressing the unique durability of life and annuity policies and the challenges that creates.
Claims is an area where AI is extremely well-suited to meet the unique needs of the insurance industry not only to drive true claims automation, but also to ensure that fraud doesn’t mar the process.
There’s a lot to be learned by assessing the impact of FinTech on the banking system, and depending on your positioning in the industry, the hindsight of FinTech may be prescient for your company.