Operational Efficiency

The industry’s traditional assessments of “returns” are not suited to the insurance company of the future.

Insurers must move from the manufacturing era (efficiency through administrative scale) to the ecosystem era (maximizing the value of a relationship).

Process intelligence tools let operations leaders “see” digital products being built, enabling use of statistical process control techniques.

Modern legal software can identify risks, categorize them based on severity and relevance and propose tailored mitigation strategies.

Low-code digital tools are simplifying customer experience management and providing consumers more self-service capabilities. 

Recent developments in tracking technology and AI provide a formidable solution for vehicle thefts and inefficiencies in fleet management. 

Insurtech funding has been dropping since 2021 and hit a 20-quarter low in 4Q22. Will it rebound, continue on a flat path or decline further?

A more disciplined strategic road map will help insurers avoid spending time and resources on projects that are lower-priority.