digital insurers

How Digital Insurers Can Win with Business Transformation

It's time insurance took advantage.

Author: Jake, Marketing  
Last updated: August 8, 2017

The role of digital insurers and their view towards digital transformation is changing.

More than just maintaining their current market share, modern, digital insurers must consider the solutions needed to increase growth.

However, the pace at which the insurance market is shifting is making it very uncomfortable for some to adjust, such that –

Nine of ten Insurers acknowledge that they are struggling to develop the technology infrastructure they need to support digitization1

Digital Insurers Infographic

In view of giving a clearer landscape of the insurance market, here is an infographic that explains:

  • Key challenges
  • Market drivers
  • Business benefits
  • Outcomes & more for digital insurers

Digital insurers infographic

We hope that this infographic shows not only the fears held by digital insurers but the means in which you can take business benefits.

In view of taking this into your organisations, here are some of the elements which you should consider auditing. While you have to prioritise business transformation, they provide great guidelines.

Next Steps: Becoming a Digital Insurer

Not in any particular order, here are some of the key challenges to review:

1. Hybrid cloud Datacentre: Through extending your current datacentre to the cloud, there can be improved capability and performance while delivering cost savings.

2. IoT and Data Insights and Analytics: Harness data from multiple sources for a complete customer/market view.

By providing the capability/ skills to quickly and cost effectively draw insights from data focused on driving growth. This will enable a personalised, differentiated service that develops new products at the right time.

3. Workspace Transformation: Ensuring that staff/agents with the right tooling to increase productivity and performance. Especially when interacting with customers.

4. Managed Services: Once you have migrated to cloud services, you need to managed service elements, allowing you to focus on running and growing your business.

Let us know which of the business transformation for digital insurers is your favourite below. Should you wish to learn more, download this guide on revolutionising the insurance industry ⇓

Topics: Digital Transformation, Digtal Transformation, Fintech, Insurance

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