The insurance industry is in the midst of a digital renaissance,
driven in large part by evolving customer values and
expectations. Research by Gallup and The Disney Institute
found that organizations that optimize customer experience for emotional connections outperform their competitors by 26% in gross margin and 85% in sales growth.


To keep pace, enterprise-level organizations must offer
experiences fit for today’s tech-savvy consumer, and modernizing technology is a key piece of that puzzle.
In fact, an eMarketer study conducted among senior IT decision-makers to identify tech initiatives that will impact innovation (by extension, experience) and new revenue generation in the US, found that the below two responses ranked among the top 12:


• Modernizing legacy technology
• Implementing teams that define common services
and standards


However, this can’t be achieved by migrating to the latest
technology alone. Most insurance companies consist of complex decentralized organizational structures broken down by: group, country and market; then down to products, services and business units.


Ready to modernize your tech stack?

Modernizing Technology in Insurance

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  Privacy policy · Cookie policy  · Terms of use 

· Modern  Slavery Statement · Sitemap

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Media Contact

Laura Jeffery 

VP, Communications

laura.jeffery@appnovation.com  

The Co-Authors

John Mozayani,

Vice President,

Technology

john.mozayani@appnovation.com 

Andrew Wong

Managing Director, 

Client Services

andrew.wong@appnovation.com

Build for Now and the Future

Ultimately it enables insurance companies to be more agile, innovate, scale sustainably, and bring new experiences, products, or services to the market faster.

In this white paper, we dive deeper into how organizations can:

• Leverage a tailored Shared Services Model,
• Embrace a Global Design System (GDS), and
• Prioritize Change Management.


The combination of the three accounts for the dynamics of
their various markets – from customer needs to regulatory
requirements while putting the focus on business operations and technology adoption.