Is Nearshore the Future of IT Solutions in Insurance?

Nearshore IT solutions are revolutionizing the insurance industry by offering significant cost savings and enhanced operational efficiency. By outsourcing IT services to nearby countries within the same time zones, U.S. insurance companies can achieve seamless communication and collaboration. This approach balances cost-efficiency, cultural alignment, and access to a skilled talent pool, providing an advantage over traditional onshore and offshore models.

Data Utilization in Insurance: Unlocking Competitive Advantage

person looking at laptop with graphs with data utilization

Data is vital in the insurance industry, influencing everything from pricing and underwriting to claims processing. However, despite having access to vast amounts of data, deriving actionable insights remains challenging. Real competitive advantage is gained by leveraging data to create new services, such as preventative measures that minimize losses and enhance resilience.

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.

Embracing Change: The Role of Creative Destruction in Business Evolution

futuristic version of Thor the Norse god smashing his hammer on an anvil with a fiery phoenix emerging from the impact.

Like pencils and erasers, Creative Destruction serves to write, rewrite, and discard old and new ideas. The term Creative Destruction was first introduced by a well-known economist, Joseph Schumpeter. The term describes a mechanism of technological change that leads to the replacement of outdated and current economic structures.

Navigating the Storm: Lessons from a Full-Scale Cyber Attack

After spending nearly two decades in insurance technology, the last six as a CIO, I thought I had encountered most challenges my career could throw at me. I survived 9/11 in NYC, a massive blackout the next year, catastrophic weather, and then COVID. But the most remarkable learning experience was a full-scale cyber attack. But the most remarkable learning experience was a full-scale cyber attack.

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.

Unleashing the Full Potential of Salesforce in the Insurance Space

Many insurance companies who’ve implemented Salesforce are leaving value on the table. If you’re an insurance company already leveraging Salesforce or considering doing so, there’s no doubt you’re aware of the game-changing capabilities the platform offers, especially in the financial services arena.

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5 key lessons in modernization

FiveM has extensive experience advising leaders on modernization initiatives, resulting in valuable insights and “The Five Key Lessons” for digital transformation.