Operational Efficiency

The sheer volume of repetitive, rule-driven work sets insurers apart from many other industries -- and creates big opportunities.

Insurers are limited by legacy systems that track only certain types of customer data — and can’t crunch available data efficiently.

Technology is opening the door to realignment of the insurance value chain, the product itself, technology stacks and IT management.

Automation offers numerous opportunities to improve efficiency, retain customers and reduce errors — but only when enacted thoughtfully.

Many insurers are still busy laying the modern, flexible core system foundation necessary to take advantage of many emerging technologies.

Merely adding a digital channel or an app doesn't work. This only adds cost and increases complexity in the IT landscape,

Insurance has certainly evolved since its inception in Lloyd’s coffee shop in 1686, but the risk transfer process has remained almost identical.

Robotic process automation provides huge benefits, but insurers may invest too heavily in RPA if they treat it as a long-term answer.