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Next-generation front-office transformation for insurers – IBM

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Article Synopsis :

Digital technology provides a great deal of promise to insurers in its ability to yield business efficiency, enhanced customer experience and better engagement. On the flip side, it requires expertise, strategy and investment to yield results.

 The Digital Insurer reviews IBM’s Report on Next-generation front-office transformation services for insurers

The changing business and technology landscape paves the way for front-office transformation 

In the White Paper titled “Next-generation front-office transformation services for insurers”, IBM explains how a shift in the business and technology landscape is leading to a front-office transformation to reshape the way people connect, transact and engage with insurers in the digital era—and how they derive mutual value. As per the white paper, insurers face multiple challenges with long-established systems that include:

  • Fragmented channels and customer experiences
  • Heterogeneous customer views and agent desktops
  • Traditional business processes that lack analytics

Link to Full Article:: click here

Digital Insurer's Comments

Insurers in Asia will need to study what their most successful competitors are doing on their journey to digital transformation. This will help insurers better understand and react to digital disruption. Insurers will have to adapt to digital customer expectations in order to deliver better service and meet what is now becoming ‘market standard’. To reap the greatest results, insurers in Asia should focus on:

  1. Customer Analytics
  2. Mobile Apps
  3. Cloud computing
  4. Social media  

Link to Source:: click here

 

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