Insurers have long been product focused organisations with a disintermediated customer base. Transforming to customer-centric culture and operations is a major challenge. Almost all insurers have some digital strategy in place but as highly regulated organisations, hampered by complex legacy systems, they are often very challenged to respond to rapidly evolving customer expectations with agility. Some insurers view digital as just another distribution channel rather than the dominant new way of operating in a rapidly changing world.
The extent of these changes means insurers will have to rethink profoundly in order to survive.
Digitizing and automating standard processes for lower costs and streamlined operations will be a key focus. Restructuring insurance and savings products into modular, interactive and customisable packages will require a new generation of responsive, intelligent back-end systems. Clearly for the sector as a whole this process has already begun, but it is impossible to know how far or how radically it will progress.
We see both what is needed and the journey involved to make insurance fully current in a responsive, digital world. We help our customers define and plan realistic digital roadmaps which we then execute to the highest standards of delivery. Working with us enables insurers to visualise their future and understand how to build it.
Contact us to find out more.