Recently, we co-hosted a webinar with Alfresco, entitled “Automating content-centric processes in Insurance”. We often hear from our Insurance customers what are their main drivers for systems modernization.
Last September, the 4th edition of the European Actuarial Journal Conference was held in Leuven, Belgium. The conference has been hosted by the Insurance Group of the Faculty, in collaboration with LRisk, the Leuven research Centre in financial and actuarial risk analysis, with Alumni & Friends Actuariaat Leuven, and with KU Leuven’s Congress service Centre.
Digital is the new market force that is driving a massive disruption in consumer expectations. It is requiring a different set of skills, processes, culture and metrics. Several industries have already started their digital path; it's time for insurers to respond to this transformation.
In the previous article, we highlighted the top challenges for insurers in the modernization process: adapting to a new digital landscape presents many difficulties for them, due to their legacy infrastructure, and a surprising number of insurers have no clear business case for digital. The first barrier to digital transformation is a lack of a clear scope of work. The challenge for CEOs and executives is understanding how to change and transform their businesses.
The forces of digital disruption continue to impact organizations of every size and in every industry, as consumers, employees, and partners expect everything to be on demand and fully connected. At a business level, there is now growing impatience to make digital transformation a reality.
85% of the insurance CEOs have “digital” on top of their agenda. Insurance providers around the world are embarking on extensive programs, but for many organizations, there are still huge barriers to digital transformation.