POW­ER­ING NEW WAYS OF DO­ING BUSI­NESS

Digital Insurance - - STRATEGIES -

Ex­ec­u­tives and IT de­ci­sion mak­ers at in­sur­ance com­pa­nies around the world are grap­pling with a mul­ti­tude of chal­lenges – in­creas­ing reg­u­la­tory re­quire­ments and com­pli­ance de­mands, break­through tech­nolo­gies, dis­rup­tive and nim­ble In­surTechs chal­leng­ing tra­di­tional busi­ness mod­els, and cus­tomers & distri­bu­tion part­ners ex­pect­ing a highly per­son­al­ized re­la­tion­ship and in­stan­ta­neous ful­fill­ment con­sis­tent with their ex­pe­ri­ences across other in­dus­tries.

In the past 10 years, the soft­ware sup­port­ing the in­sur­ance in­dus­try has un­der­gone a seis­mic shift, from a fo­cus on in­di­vid­ual core pro­cess­ing com­po­nents for pol­icy, billing and claims, to core suites that in­clude all these com­po­nents, pre-in­te­grated and pre­con­fig­ured, with por­tals and an­a­lyt­ics ac­cess­ing all of them. This has now evolved to an ex­panded view of sys­tems that in­clude a wide range of core pro­cess­ing ca­pa­bil­i­ties as well as ex­ter­nal ser­vices and data, all meshed to­gether by in­di­vid­ual in­sur­ers into highly per­son­al­ized user ex­pe­ri­ences. This trans­for­ma­tion is be­ing driven by a new soft­ware of­fer­ing, the Dig­i­tal In­sur­ance Plat­form. At In­surity, we of­fer clients a dig­i­tal in­sur­ance plat­form that in­cludes ev­ery­thing an in­surer needs to create user ex­pe­ri­ences that are com­pelling, in­tu­itive and dif­fer­en­ti­ated.

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