Google Tanslate

Select Language

Sign up and be the first to know

About Hugh Terry & The Digital Insurer

Hugh Terry & The Digital Insurer Video

Contact Us

1 Scotts Road
#24-10 Shaw Centre
Singapore 228208

Write an article

Get in touch with the editor Martin Kornacki

email your ideas at [email protected]

Pre Registration Popup

itcasia2020 Registration Popup

Share Popup

Prime Member: Find out more

Access a unique programme!
  • 56 pre recorded lesson of online content from industry experts over 7 courses
  • The best in digital insurance for practitioners and by practtioners
  • Online MCQ after each lesson
  • Join the discussion forum and make new friends
  • Certificate upon completion to show your expertise and comitment
  • 3 months to complete
  • Normal price US$1,400 Your Prime member price is US$999
  • Access to future versions included in your Prime membership!
Become a member

Prime Member: Contact Us

Reach out to us. Please fill up the form below
Let us know how we can help. You can expect a response within 24 hours
Services of interest

Arthur D. Little

Arthur D. Little has been at the forefront of innovation since 1886. We are an acknowledged thought leader in linking strategy, innovation and transformation in technology-intensive and converging industries. We enable our clients to build innovation capabilities and transform their organizations. ADL is present in the most important business centers around the world. We are proud to serve most of the Fortune 1000 companies, in addition to other leading firms and public sector organizations. For further information, please visit

KPMG: Operational excellence in insurance- Performance, digital and customer experience

Article Synopsis :

It is no surprise that insurers are declaring they have yet to make significant gains in operational efficiency. Every survey tells us that a lack of process standards and strategic vision remain key inhibitors and this KPMG survey is no different.

 The Digital Insurer reviews KPMG’s Report on Operational excellence in insurance: Performance, digital and customer experience

Still a long way to go on the road  to digital transformation

Insurers that fail to focus on operational efficiency run the risk of securing their imminent demise, astray fail to meet the expectations of customers, agents and brokers.

Main priorities

Most insurers are focused on redesigning processes, implementing sales and servicing channels at a lower cost and repairing/replacing legacy systems.

Yet integration remains at a very low level. A fifth of finance and almost a third of HR (30%) indicated a total lack of integration.

Fewer than one fifth claimed some of their processes were fully integrated, with claims at 19% and policy servicing at 16%. And the story is the same across all functions, including underwriting, distribution, product operations, information technology (IT) and contact centres.

A new focus

The focus is set to shift to claims (55%), policy service (51%) and underwriting (45%) over the next two years.

Those areas with the worst levels of integration will remain a low priority at most respondents’ organisations – 74% for HR and 57% for finance.

Location, location, location

Location seems to determine what will be the next major focus, says the survey. In North America, 60% of carriers have given distribution the highest level of priority. Underwriting, policy servicing and claims are all the next most important processes at more than half of respondents..

Policy servicing is receiving the highest level of priority at 56% of organisations in EMEA, followed by claims (48%) and contact centres (41%).

Doing their own thing

Latin American and Caribbean-based insurers buck the global trend with 58% of carriers seeing finance as a high priority function for delivering efficiency gains.

Overall, the next 12 to 24 months will see insurers look to intelligent automation and alternative sourcing (from 20% to 33%) away from their previous focus (fixation) on process standardisation and legacy systems (from 58% to 48%).

Link to Full Article:: click here

Digital Insurer's Comments

 Yet another survey shows that insurers are being slow to adapt to the new world order.

Some seem to have got the message, but others remain bogged down in legacy and slashing costs.

Insurers need to focus on the what is important to them, not waiting to see what everyone else is succeeding at and copying them.

The trends in emerging markets such as Latin America and the Caribbean suggest they are not seeking to apply the same model as developed nations.

Link to Source:: click here


Livefest 2019 Register Popup Event

Livefest 2019 Already Registered Popup Event

Livefest 2019 Join Live Logged-in Not Registered

Livefest 2019 Join Live Not Logged-in