Operational Efficiency

By 2028, the insurance industry is poised to be eons ahead of where it currently stands, and insurtech will lead the way.

Today's customers are accustomed to instant everything, and the outdated paper check payment model is a gut-punch in a time of a need.

Used separately, e-signature and document management systems are ineffective. But their interplay makes dealing with regulatory changes simple.

Traditional operating levers for executing strategy no longer work. 20th-century structures don't work in 21st-century conditions.

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.