At the recent TINtech event dedicated to technology in the world of insurance, there was evidence of refreshing thinking and some thought provoking words from the speakers.
Most importantly, from Simply Business, 'What is the cost of inaction'? The simple answer is that customers will go elsewhere. This year has been littered with examples of Companies that failed to change and thus simply failed.
Frequently the constraint to innovation and change is seen as legacy technology. This should never be an excuse. Technology should always enable, not constrain. Nick Miekle from the Direct Line Group rightly identified that we need flexibility in the market place. He stressed that we should talk about the needs of the business and then find the technology that will deliver. This sounds like common sense, but alas it is far too often the other way around. The limitations of the technology shape the business solutions!
Stephane Flaquet from Hiscox identified that 'The company with the best technology and the ability to use it will win' He feels that solution selection should be geared towards speed of change and the ability of the technology to deliver self service solutions for the business to reduce dependence on overworked IT departments.
Refreshingly, the main themes of the day were around the need for technology to support constant change and growth. The speaker from the BGL Group summed it up nicely, saying 'You need to keep pieces of work short and sweet and deliver benefits to the business as soon as possible'.
Here at Total Systems we have long advocated the need for agile technology to support the strategic vision through smart software and self service solutions for the business. If we see more Companies move to this approach we may just start to see some interesting developments in the world of Insurance.
November
Emerging technologies – risk and opportunity
October
What does the future hold for commercial insurance?
September
Insurance is changing – time to adapt and survive
August
Does AI deserve the headlines?
May
Seeing through the eyes of the customer
April
Insurance technology – simplify the complex
March
December
It’s Crystal-Ball Gazing Time Again
November
How ready are you to combat fraud?
October
Actions speak louder than words
September
Efficiency, agility, and profitability
How can you be more customer-centric?
August
Old Technologies - It is OK to plug the gaps
New Technologies - Same Old Systems
June
May
Is your business ready to adapt?
March
No, seriously, what can you claim about your claim systems?
What can you claim about your claim systems?
February
It's people that have the ideas
January
November
The challenge to be different – it’s all about the people
September
Security, Simplicity and Speed - the future of Financial Services
July
The New Breed of Quote and Rating Modules
June
INSURANCE INNOVATION SUMMIT 2015 - Hosted by Ingenin Ltd
April
Speed and Personalisation – aspiration or reality?
March
Team spirit is an illusion glimpsed in the aftermath of victory... or is it?
January
December
What's your New Year resolution? Here are three of ours
November
2014 Insurance Technology Event - Championing Innovation - Hosted by Post Events
The maverick in the ranks - how do we deal with the talented non-conformist?
September
Are you Responsible, Chilled, Sociable, or Happy?
August
July
June
Cloud computing – a huge opportunity for the Insurance Industry
May
Past failure is a threat to future success
April
It isn’t broken yet - is change too risky?
March
February
How to make vision a reality – it’s not that difficult
The Challenge IS the Opportunity
January
December
What customers want from the Life Insurance industry
Themes from Insurance Strategy Insights event
November
What is disruptive technology?
October
Closing the insurance delivery gap
September
Reliability much more important than price
August
Where has all the creativity and innovation gone?
Is there too much fear in business?
July
"Simplicity" is not as simple as it looks
June
Insurers need to innovate and excite - or die
May
The danger of business inertia
April
March
Trust and loyalty go hand in hand
February
January
December
The year ahead in Financial Services
Love it or hate it, you can't ignore the influence of Twitter
When is it better to 'start again'?
November
October
Solvency ll - may be delayed but certainly won't go away!
September
August
Stand still and get left behind!
July