The three top challenges for insurance firms and how application integration can help solve them

To achieve growth, insurance firms must move from multiple isolated applications to service-based integration. Systems such as billing management, policy management and claims management must be made extensible to support new applications. By doing so, firms can augment existing distribution channels and capture new business; more deeply serve and engage their customers; and develop new products to address market whitespaces. The net effect is more effective customer acquisition, retention and profitability.

This whitepaper explores some of the approaches best suited for responding to three top challenges facing insurance firms and highlights how utilising a lightweight, standalone Enterprise Service Bus (ESB) lays the foundation for insurance industry growth.

Topics covered:
• Determinants of growth and market share in the insurance industry.
• Insurance product distribution.
• Customer service.
• Product and service innovation, customisation and simplification.
• The software architecture for insurance industry growth.