Unlocking Innovation: How Insurance IT Can Empower Business Users with No/Low-Code Solutions
In the ever-evolving landscape of technology, insurance companies face a dual challenge: maintaining everyday operations and simultaneously pursuing innovation. My conversations with clients reveal a consistent obstacle to innovation: a lack of time. IT departments are deeply entrenched in the daily grind of business as usual (BAU) and Keeping the Lights On (KTLO), leaving little room for creative thought or novel projects.
Navigating the Digital Seas: The Transformation Journey of Life & Annuities in the Insurance Industry
Over the past several quarters, the life and annuities (L&A) sector has emerged as a beacon of growth and potential within the broader insurance industry. This segment’s expansion, while promising, raises pivotal questions about the readiness of life carriers to scale effectively, given their historically antiquated systems and complex operational landscapes.
FiveM Consulting and Fortimize Forge Strategic Partnership to Elevate Insurance Industry’s Salesforce Experience
Two industry leaders, FiveM Consulting and Fortimize, are excited to announce a strategic partnership aimed at enhancing the utilization and adoption of Salesforce and Data & Analytics capabilities within the insurance sector. This collaboration is poised to bridge a longstanding gap of insurance industry expertise and technical delivery excellence.
The InsurTech Inflection: Navigating the New Age of Insurance
InsurTech is a pivotal force reshaping the insurance industry. Fusing insurance and technology shifts the paradigm. It introduces cutting-edge tools and methodologies to an age-old sector. InsurTech applies technologies like artificial intelligence, big data, and blockchain to revolutionize insurance processes, including these fundamentals
Navigating the Cloud: The Evolving Journey of Insurance Companies
In the world of insurance, a sector often perceived as slow to embrace change, a quiet but profound transformation is underway. This change revolves around the adoption of cloud computing, a move driven by the industry’s growing need for agility, scalability, and enhanced security in a digital-first era.
Revolutionizing Underwriting: Unleashing Efficiency for Better Outcomes
Decades-old underwriting processes have stood the test of time, but many companies remain hesitant to enhance these systems as long as their ratios hover around industry averages. In a recent poll conducted by Accenture, startling revelations emerged—40% of underwriters’ valuable time is allocated to non-core activities.
The Rise of Agency Creation: A Prudent Alternative for Insurance and Private Equity Capital Deployment
In a world characterized by ever-changing risk dynamics, especially in the property and liability markets, insurance carriers and private equity firms find themselves at the crossroads. The challenge of determining where to invest capital without taking on significant underwriting risk is real and daunting.
The Critical Need for Insurance Companies to Re-evaluate Their Software Stack for Cost Optimization
In the wave of tech modernization, several industries hopped on the bandwagon to remain competitive and to deliver better services. Among them, the insurance sector was no exception.
