... it is believed that all countries will move to selling and servicing 80% of insurance online

A Brave New World

Remaining relevant in an evolving insurance market demands diligence on many different fronts. Over the last decade technology has radically changed the basic business of acquiring new customers, processing claims and delivering services.

An increasingly digital client base has embraced the relentless march towards a fully online insurance market. However, the established industry infrastructure is too complex with correspondingly high processing costs to react and adapt to the changing reality.

A Digital Revolution

In the modern digital world it is believed that all countries will move to selling and servicing 80% of insurance online, the exact timing will however differ per country. Established players are under increased attack from competitors with convenient and simple all-digital offerings that circumvent a traditional sales model.

Costs, Costs, Costs

Profitability is more often about control of costs but opting for well-known business process management systems is too costly and over-the-top for most players. And the winners of the future seem to be the ones that are able to keep them in control.

Legacy Spaghetti

One of the greatest challenges successful insurers are facing is maintaining market dominance while being hampered by unresponsive and inflexible legacy software compounded by the mounting costs of monolithic hardware.

A Digital Dialogue

Customers routinely conduct all their insurance business online - from research and application to claims and settlement. Increased customer participation equates to lower costs but customers expect a dynamic real-time dialogue with their provider in return.

New Brand Initiatives

Increasing numbers of established insurers and reinsurers are launching new all-digital brands. Rather than updating multiple established systems, databases and ancillary back-office systems, insurers are increasingly turning to self-contained white-labelled services that offer quick time to market and the flexibility to grow in sync with the business.