My customers use multiple system entry to process business.
- Complex architectures and severely siloed systems hamper results
- Significant amounts of manual, duplicative data entry required
- An integration layer is needed to connect systems
- It is difficult to collaborate with distribution channels
My board wants me to innovate, but...
- Budget cuts are straining productivity
- New development is on hold
- There is no time to assess emerging technologies
- Time is spent on reduction of maintenance
Our business continuity plan calls for WFH/remote access that we can’t currently provide.
My $10 million core system implementation just became a legacy.
- The new core system lacks needed functionality
- It is costly to connect to digital platforms
- Another expensive, rip-and-replace initiative is impossible
- Leveraging current capital investments is critical
There is a huge queue to get new products into the policy system.
- Current IT task queue prohibits speed-to-market
- Competitors are delivering new insurance products more rapidly
- New customer acquisition is difficult with outdated product set
- It is difficult to digitally provide product to other distributions
My supplier/partner ecosystem is expanding.
- We are falling behind our competitors
- It is time to integrate with new insurtech partners
- API integration is imperative
- Too many technology options are confusing
I can’t compete with digital-first new market entrants.
- Little ability to offer choice in distribution channel
- Current insurance products lack modern features
- Need extensibility to the web, mobile devices, and digital ecosystems
- Customer satisfaction decreases without digital enhancements