Realignment in Insurance: Business Models, Products, Value-Added Services

The insurance industry is at an extraordinary crossroads. Name a pressure and it’s happening right now. These pressures signal why insurers must rethink their business operating model and technology foundation to remain relevant and growing.

Insurers across the board are seeing the need to improve, from both an operational and technology foundation perspective. Insurers are realizing that their current operational business model is falling out of sync with the realities of today’s market environment, and the technologies that provided their original foundation must be refined or replaced.

Many operating models and technology foundations were pieced together over decades, resulting in numerous constraints and business challenges that companies must deal with today. Transitioning to a fresh operating model and technology foundation is necessary but requires strong leadership and execution to avoid the risk of letting legacy processes leak into their new operating model, which would limit the opportunity to gain operational efficiencies, speed-to-market, enriched customer experiences, and much more.

Read this report to better understand:

• Insurers’ strategic initiatives and innovation investment priorities for the future.
• Expectations for business model innovation and changing how business is done.
• Expectations for new product and value-added services development activity.
• How Leaders are keeping a dual focus on both optimizing the current business and innovating for their future business.