KEY SHIFTS MARK THE PATH TO DIGITAL INSURANCE
Empowered consumers, innovative competitors and new technologies are bringing massive changes to the insurance industry. As a result, insurers must now create products that inspire customer demand, and those products must be simple and flexible enough for customers to evaluate and purchase online. Insurers that adopt more diverse information sources and deeper analytics will develop a more nuanced view of customers, channels and products to attract and retain customers.
DIGITAL INSURANCE: HOW TO COMPETE IN THE NEW DIGITAL ECONOMY
The traditional insurance company is set up to best serve a type of customer that, in the very near future, may no longer exist. Demographic behavior has shifted and many consumers who are not digital natives are beginning to behave as if they were. Consumers of all ages are becoming more comfortable not only using tablets and smartphones but with electronic transactions in general.
TURNING BIG DATA INTO INSURERS’ COMPETITIVE WEAPON
For insurers, the emergence of big data signals a major shift in not only how data can be leveraged, but also where. Beyond simply improving how policies are underwritten, big data can now help insurance companies across the value chain, revolutionizing how they engage with their potential and existing customer base.
AN INSURER’S JOURNEY TO THE CLOUD
Despite the abundance of private and public cloud service availability, many insurers are still struggling to understand where, when and which applications are good candidates for cloud platforms, let alone how to modernize those applications to take maximum advantage of cloud economics. Setting the right foundation — one that helps insurers take advantage of lower pricing due to competition over time — is a critical element of an organization’s journey to cloud enablement.
CSC COMPLETES XCHANGING ACQUISITION
CSC and Xchanging together will create a new leader in technology and business process services for the global insurance industry, significantly expanding CSC’s market coverage and enhancing the range of services to clients of both companies.
CREATING THE NUMBER ONE PROVIDER OF CORE INSURANCE SOLUTIONS GLOBALLY
CSC’s combined business now has more than 66,000 global employees, including 18,000 insurance-dedicated staff globally. With the combined strength of Xchanging, CSC is at the heart of the insurance industry’s digital transformation wave. Leveraging our partners, industry IP and global domain expertise, CSC’s strategy is to lead our clients on their digital journey with a new generation of offerings.
CSC DIGITAL INSURANCE: A NEW WAY FORWARD
CSC’s Digital Insurance Solutions are a comprehensive set of IT services that include: an omnichannel portal that integrates with digital claims administration, big data platform and analytics services, and the application transformation services required to integrate and customize a customer-centric client engagement process. CSC also provides consulting services to help clients with an enterprise-wide transformation of structures, processes and mindsets and provides cloud orchestration capabilities to enable a successful journey to next-generation infrastructure.