The insurance industry is operating in an age of radical disruption. Traditional insurers are no longer safe, with insurtechs challenging incumbents to rethink their business and operating models. The diversification of product offerings and ever-growing price competitiveness mean that customer expectations are changing faster than ever before.
This mass disruption creates increased pressure on IT to deliver intrinsic business value. Never before has so much emphasis been placed on IT’s ability to deliver new offerings and services, new customer touchpoints, and new experiences, while driving greater operational efficiencies and continuing to provide traditional business systems. With all of these growing demands, and delivery capacity remaining seemingly finite, it’s often difficult to know where to start.
This whitepaper provides a three step guide to transformation and highlights how insurers can leverage the power of Application Programming Interfaces (APIs).
• Unlocking data.
• Building connected experiences.
• Becoming data-driven.
• Why API-led connectivity?