Insuring the Future of an Industry
IBM has worked with hundred of insurance companies that are striving for the efficiency and agility that can be achieved through information-led transformation.
There are distinct steps that can process insurance companies along the path to transformation, each providing its own return along the way. Visionary thinkers will use this strategies insight to transform their organisation by four imperatives:
Powerful interaction points: Saying Goodbye to the Channel
Insurance consumers now use multiple interaction points to research and buy insurance, making it a new challenge for the insurance industry to reach them effectively and profitably.
The insurance industry is facing pressing issues: personal lines carriers are finding it difficult to sustain growth; consumers are increasingly choosing to less-profitable products; health insurers are facing the demands of an aging, empowered customer base; and commercial lines carriers are under intense competitive pressure from brokers for large, complex accounts and from shareholders expectations of improved returns.
We can help firms address these and other issues by identifying new, sustainable sources of value through modernising and integrating virtually every business process insurers use, both within and outside the organisation.