Posted on April 17, 2014 by Daniele Presutti
In this blog, I want to consider the concept of profitable growth in the insurance industry from a different angle: technology. As my previous blogs have suggested, sustained profitable growth depends on strategic cost reduction combined with the development of new business.
Developments in technology are having, and will continue to have, a significant impact on both areas.
From the client side, . . .
Posted on April 17, 2014 by Shay Alon
Continuing on from my previous blog post where we discussed the current annuity environment and why legacy systems are not meeting annuity providers’ needs, in this post we’ll talk about the characteristics of a modern annuity system and its significant benefits.
What does a modern annuity platform look like?
A modern annuity platform must support multiple product lines or capabilities, including . . .
Posted on April 17, 2014 by Mark Halverson
One of the central messages implicit in the rise of the big-bang disruption is the speed at which it happens. But this should not cause one to think of the lumbering galleons of the Spanish Armada being outfought by the nimble, small British ships of Sir Francis Drake. Big companies can, and do, produce these types of innovation—only look at the Microsoft Kinect example cited in a previous blog.
A . . .
Posted on April 16, 2014 by Thomas Meyer
Increasingly, as we’ve seen, insurers have to adapt to a world in which consumers are more aggressive in terms of what they want and the lengths they will go to get it. Becoming a digital and customer-first organization is essential in order to attain the required flexibility, and probably the larger companies at any rate will have to consider multiple business models depending on line of business . . .
Posted on April 15, 2014 by Erik J. Sandquist
Last week, I talked about the results of our latest Technology Vision survey and its indication that “Every business is a digital business.” Big companies are jumping into the digital race, using their extensive resources and capital to redefine their own industries and create new markets. While digital is important for all industries, it is imperative for insurance.
The insurance imperative
The i . . .