Change is inevitable and you should change with the changing times!
Today, to compete successfully in the fast changing and dynamic environment, organizations are transforming to a ‘New Business Architecture’ that enables extreme customer convenience, extends their portfolio radically and reduces costs.
The new technology buzz words such as Artificial Intelligence, Cloud, IOT and Blockchain are taking the center stage and increasingly playing a significant enterprise wide role in support of this ‘New Architecture’.
According to a survey by Mckinsey, “A large incumbent could more than double profits over five years by digitizing existing business.”
When it comes to the insurance sector, dynamic markets, tight capital, increasing risk and technologically sophisticated customers are just some of the pressures the insurance industry faces today. As a result, insurers will have to work faster, more efficiently and, above all, smarter.
The Mckinsey survey reveals that “automation can reduce the cost of claims journey by as much as 30%.”
To know how Insurance organizations around the world are transforming; the huge benefits they are generating; and what are some of the lessons learned so far, join The Economic Times Live Webinar on Cognitive Enterprise powered by IBM and discuss how to Win in Insurance sector through a Next Generation Business Architecture.
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| Lower operational costs | Improve customer convenience | Ease portfolio extension |
