This is the first in a series of blogs that examines how ‘internet savvy’ challengers are entering the insurance market and what this can mean to an industry that has traditionally been perceived as ‘stodgy’, ‘risk averse’ and ‘slow to change’. The blog goes on to discuss the legacy technology challenges that are hampering the industry today, and how different modernization strategies and/or radically new operating models are needed to compete in the future.
Financial Services
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Don’t Let Your Legacy Systems Make You Irrelevant
Disruption in Insurance industry – is it sporadic
Business Disruption is not new, but, simultaneous disruption in different walks of life and across businesses is the new phenomenon that global businesses are trying to position as an opportunity, challenge, or a threat. With never like before technology led la-uber disruptions surfacing in different industries, business needs to develop a deeper understanding of the underlying factors to come with an effective strategy to survive a possible deluge, if not to differentiate and stand apart. This applies more to industries where sporadic disruptions are surfacing but failing to make a remarkable impact. Insurance is one such industry. I think the insurance industry is poised for a very exciting but challenging phase in coming years.
Make ‘Fun’ to sell insurance & reduce cost - “Gamification in Insurance”
Murali Dharan Haragopal - Head of Global Insurance Business Solution Group
| March 17, 2016
1250 Views
1250 Views
Did you know? Games share certain characteristics with insurance, business and our lives! Significant common characteristics include uncertainty, challenge, chance, choices, goal, relevance, reward, rules and terms of agreement.
