The New Age of Customer Communication in Insurance: A Business Case for Legacy Modernization

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The insurance industry has always approached customer interaction in a way that reflects the nature of the business relationship with the policyholder, but this is beginning to change.

New York, NY (Aug. 31, 2015) – In the report The New Age of Customer Communication in Insurance: A Business Case for Legacy Modernization, Celent describes this “new age” and explains why insurers need to consider it when embarking on legacy modernization programs. The report is based on the results of legacy modernization surveys launched by Celent in 2010, 2013, and 2015.

Key research questions:

  • What factors force insurers to rethink the way they communicate with their customers?
  • What is the main headline benefit on the business case for legacy modernization?
  • Do responsibilities move between business and IT in document and portal design following a legacy modernization project?

“A vast majority of insurance companies expect to improve their business agility by following their legacy system modernization program,” says Nicolas Michellod, a senior analyst with Celent’s Insurance practice and author of the report. “Being able to address customer needs in a flexible and timely manner has been the main objective of insurers over the past five years.”

IT environment's impact on achieving desired level of customer service

Purchase the complete report from Celent. This report contains thirteen figures and one table.

About Celent

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is part of Marsh & McLennan Companies (NYSE: MMC).

Source: Celent