Vendors
日本語
search
  2. //
  3. Reports & insights
  4. //
  5. Creating a Modern Insurance Enterprise

Creating a Modern Insurance Enterprise

Create a vendor selection project
Click to express your interest in this report
Indication of coverage against your requirements
A subscription is required to activate this feature. Contact us for more info.
Celent have reviewed this profile and believe it to be accurate.
We are waiting for the vendor to publish their solution profile. Contact us or request the RFX.
Projects allow you to export Registered Vendor details and survey responses for analysis outside of Marsh CND. Please refer to the Marsh CND User Guide for detailed instructions.
Download Registered Vendor Survey responses as PDF
Contact vendor directly with specific questions (ie. pricing, capacity, etc)
28 August 2023
Nanda Rajgopal

How to build a strong foundation to take advantage of emerging technology?

Abstract

Technology has been emerging at a rapid pace and is expected to continue advancing. Data analytics, cloud computing, and artificial intelligence and machine learning (AI/ML)—including the recent emergence of Generative AI (Gen AI) and Large Language Models (LLMs)—along with evolutions in core insurance systems, have been making significant strides in recent years. Customers are gravitating toward newer technology, particularly smartphones and mobile devices. These advances in technology are interrelated, and insurers need to think differently to fully benefit from them. How should insurers adjust their thinking to take advantage of these emerging technologies? What steps should they be taking to continuously transform, keeping pace with customers and offering them innovative products at a faster rate? How should insurers be organized to reap ongoing business benefits?

Among the many options insurers can pursue to keep pace with the changing consumer landscape and technology, there are seven tenets or key focus areas that can transform insurance companies into modern enterprises and help them stay nimble and adaptable. These tenets are Data, Cloud, AI (Artificial Intelligence), LCNC (Low-Code/No-Code) Platforms, Core Systems, Corporate Systems, and Innovation.

We have identified six steps to transform into a modern insuarnce enterprise by implementing key tenets. The first step involves conducting a through assessment of the

Client Access