To maximize the benefits of blockchain, enterprises need to take a planned and measured approach to adoption
Insurance firms’ have their largest skill gap in IoT and Cognitive and AI based technologies
Digital Leaders in Insurance Outperform Others in All Digital Maturity Dimensions | Market Insights™
Digital leaders in insurance outperform others in all digital maturity dimensions
Digital leaders in insurance focus on 5 key areas: digital strategy, digital talent, process transformation, technology adoption, and innovation.
Although offshoring is the predominant delivery model among L&P insurance BPO active contracts, the degree of offshoring within the L&P segment varies by process
Although technologies such as AI, blockchain, and IoT can assist insurers in digital transformation, legacy back-end can be a barrier to the realization of its full potential
Key Factors
- Intense regulatory environment
- Next-generation technologies
- Continuing margin pressures
- Need for customer-centricity
- Product design and innovation
- Changing competitive landscape
Third-party administrators, BPO providers, and BPO providers with TPA capabilities each have something to offer insurance carriers; however, determining the best choice for an individual enterprise depends on specific outsourcing drivers
Strategic imperatives and technology enablers to transform current insurers for the future