Posted on July 1, 2015 by Alex Bausch
Digital Transformation for Insurance Companies
Insurance companies need to reinvent themselves to stay ahead of the curve, stay current with compliance laws and regulations and redefine the way they do business. Digital transformation means getting your customers online, knowing who the customer is and engaging with them in a meaningful way. To be successful, the customer journey is essential with a focus on mobile and social solutions.
Getting ready for mobile
Legacy systems are one of the biggest challenges for insurance companies and the financial sector as a whole. This is intensified by the advent of cloud computing, the mobile revolution and the practice of multiple disparate systems accrued due to mergers and acquisitions. Insurance companies are eager to disentangle these systems, taking out he complexity. This is driven - in part - by consumers who demand access to these back-office systems with mobile apps, using one identity, in a secure way. Consolidation of core systems and upgrading the (mobile) identity stacks should lead to increased agility, efficiency and cost savings.