While property and casualty insurance is by definition the business of risk, in recent years the industry has faced unprecedented market issues. Between stiffer competition, rising costs, reduced investment income, fleeting customer loyalty, and slowing premium growth, insurers are challenged to protect profitability and grow premiums. In this environment, insurers need to respond quickly to changing business conditions to achieve a competitive edge.
Strong policy processing capabilities can bring Insurers this advantage. In fact robust policy processing can provide a stable and reliable operating platform from which insurers can build business agility, and create marketleading business capabilities�the fundamental pre-requisites for brand differentiation in today�s marketplace.
Core policy processing systems play a central role in enabling the business capabilities that differentiate leading insurers: Customer service, product management, underwriting, billing, and other critical areas. Yet the complexity and age of these systems can make creating agility and responsiveness a challenge.
However, a vanguard of leading insurers is tackling such issues by overhauling their core policy processing systems to establish the market-leading capabilities that their businesses demand.
Capgemini believes the best way to address the policy processing technology challenge is to take a business-driven approach to core policy transformation that ensures business outcomes are achieved and targeted benefits are realized.
To read more about how such an approach significantly reduces risk, improves IT efficiency and optimizes operating costs, register and read “Differentiating For Competitive Advantage in the Business of Risk” here.
About Capgemini in Insurance
Capgemini’s Global Financial Services Business Unit brings deep industry experience, innovative service offerings and next generation global delivery to serve the financial services industry. With a network of 18,000 professionals serving over 900 clients worldwide Capgemini collaborates with leading banks, insurers and capital market companies to deliver business and IT solutions and thought leadership which create tangible value. More information is available at: www.capgemini.com/financialservices.