Insurers are under tremendous pressure to grow revenues, and to preserve or even increase margins by keeping a tight lid on costs. To achieve this, they face three main challenges:
1) Customers are demanding increasingly complex, and increasingly segmented, products, and there's a race to bring innovations to them.
2) Insurance products and investments must perform well in financial markets-markets that have been extraordinarily volatile in recent years.
3) Insurers have to deal with ever-heavier compliance burdens due to regulations such as the Sarbanes-Oxley (SOX) Model Audit Rule in the United States and the Solvency II mandate in Europe. And more compliance pressure comes from senior corporate managers, who want access to accurate, up-to-the-minute information about company operations and finances to gain better control over enterprise performance.
This paper looks at how insurers can use software to transform the insurance enterprise.
- Business in the new economy.
- Deploying new products and channels globally.
- How to provide a consistent service.
- Enabling the adaptive enterprise.