Disruption in Insurance is inevitable – as the government eases restrictions, Insurance companies will be assessing what the new reality will mean for their operations and how they can come out in front of their competitors.
This is a pivotal time for insurers to look again at which functions within the business need to scale up, which can be and must be transformed, and which investments in technology need to be accelerated to help address some of their most immediate needs and to build their capability for the long run.
Insurers know that digital innovation is key to staying relevant and ahead of the pack, but are unsure HOW they can embrace technology and make it a core value that can deliver incremental iterative change with agility – smart solutions that can move the dial now by reducing overheads, pricing better, settling claims faster, and more.
Disruptors of tomorrow are the ones that start with new technologies to engage with the customers of tomorrow – Lemonade, Uber, Netflix, Spotify to name a few.
In the Insurance sector, innovators like FWD, BIMA (funded by Allianz X) are using the transformation capabilities of new low-code platforms to build entirely new systems with remarkable speed; while, established players like AXA, BPL Global, Zurich, Liberty, and Van Ameyde are also using low-code to drive innovation and stay ahead of the competition.
Focus Network, in partnership with OutSystems, will bring New Zealand’s insurance IT leaders together with Angus Kennedy, CTO Tysers Insurance Brokers and at Systems iO, London, as he brings global and London market insights around success in the Insurance industry focusing on core transformation and overcoming the drag of legacy to drive revenue and customer experiences.
- Business is never off-the-shelf hence our approach to innovation can never be-off-the-shelf
- How to build a transformation velocity that is responsive to business need and external influences
- Adopting a modern, low-code platform without overwhelming the business and taking too much risk