emerging technologies are raising the bar for insurers
TRANSCRIPT
© 2015 Information Services Group, Inc. All Rights Reserved.
© 2015 Information Services Group, Inc. All Rights Reserved.
Emerging Technologies are Raising the Bar for Insurers
Clay Calhoun, Bob Krohn, Ray Shehata
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Agenda o Digitalization is DISRUPTING the insurance industry
o What does this mean for sourcing buyers and providers?
o Takeaways
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Insurers face a challenging reality...
strict regulations fickle customers uncertain economy
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and the added complexity of growth.
Mergers and acquisitions
+ + + +
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Meanwhile…emerging technologies are changing the rules of the game.
Connectivity Digitalization Cloud Big Data & Analytics
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Digitalization is disrupting the entire business model.
from the front office o Policy application o Claims submission o Access to and portability
of information o “Know thy customer” o Electronic health records
to the back office o Customer Records o Policy Administration o Claims Management o Image and Data Management
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Connectivity is reinventing how insurers engage with customers.
Applications? Network? Data privacy? Security?
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The cloud is changing how companies contract for services.
Understand Current costs
Evaluate Applications
Model Scenarios
Evaluate & Continually Procure
Business Case & Technology Business Management
Application & Organizational Readiness
Design, Deployment & Sourcing Model Strategy
Provider Evaluation & Platform-based Sourcing
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Big data and analytics are enabling companies to
o refine market segmentations strategies o help reduce “fraud claim” o predict behaviors and actions o model risk o make informed decisions
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What does this mean for outsourcing buyers and providers?
Improving operational efficiencies
o Eliminating costs o Improving margins o Replacing labor with
automation o Employing Business Process-
as-a-Service
o Contracting (and paying for) outcome-and results-based services
o Buying—not building—applications o Implementing shared services
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