Insurance companies are under pressure. Changes in the regulatory and economic landscape, along with cautious spending by customers are leading insurers to look at better managing their risk and improving operational efficiencies.
In particular, the Life and Annuities industry in the US is still reeling from the effect of the most recent collapse of the financial markets. Low interest rates and the sluggish growth in disposable income have been putting downward pressure on profit margins, highlighting the increasing need for innovation and superior operational performance across the industry.
Harnessing the power of modern technology, optimizing distribution channels and implementing sound client-centric strategies are crucial for keeping up with the competition in an agile marketplace where customers expect engagement on their terms and boardrooms expect real-time access to business performance data.
But how can your insurance company achieve enhanced administrative efficiency and optimal management oversight – increasing your speed to market and lowering your service cost?