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Insurance

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Top Story

Innovate or Perish: The New Imperative for Insurers

With the mobile-oriented population as your new target customers, you must rethink your operations and commitment to customer experience. Discover the strategic priorities that will allow you to thrive: a resilient and data-driven platform, a simplified IT and business landscape, seamless multi-channel interactions, and fully integrated data. Thus empowered, you can proactively predict customer needs, provide an exceptional customer experience, and elevate brand loyalty and customer retention – all while maintaining security and regulatory compliance.

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Transform your Business, Operations & Technology 

Insurance companies are facing many headwinds -– low investment portfolio returns, stagnating premium growth, rising costs, operational inefficiencies, insurtech-driven startups, and a hybrid, globally distributed, workforce. 

ISG’s insurance practice specializes in business-technology strategies, partner-ecosystem advisory, cost optimization, modernization, IT, digital and cloud transformations.

We work with Life and Annuity (L&A), Property and Casualty (P&C), and Reinsurance companies. Our advisors cover quote to claim. We have advised in new business, underwriting and claims management, as well as policy administration that includes provider and platform selections. We have supported insurers with operating model review and redesign, outsourcing and offshoring, and infrastructure consolidation.

Strategize and Execute Your Partner Ecosystem Roadmap

ISG is a leader in providing partner-ecosystem advisory and benchmarking services to guide our clients to successfully bid, negotiate or renegotiate contracts. With the emergence of digital technologies, we created our robust sourcing methodology to help you achieve appropriate vendor/provider relationships to address newer business and IT models, such as Agile, DevOps and AI. Plus, our tools can help you manage your ongoing third-party relationships and risks.

ISG maintains up-to-date information about emerging technologies from diverse sources, including directly from top business process, technology, TPA (third-party administrator), insurtech and platform suppliers. This enables us to provide deep, unbiased insights about supplier partnerships for automations, transformations, and traditional, outcome-based or futuristic partner models.

ISG’s insurance practice can help you:

  • Drive better results with emerging marketing, data, and cognitive science (AI technologies)
  • Measure transformation program value
  • Form next-generation sourcing partnerships considering Agile, DevOps and Digital technologies
  • Negotiate and benchmark contracts
  • Drive cloud transformations
  • Ensure your costs & SLAs are best-in-class
  • Achieve savings through better software and network asset management
  • Create a futuristic and modernized contact center
  • Improve governance and third-party risk management (TPRM)

We are prepared to invest toward the success of our clients. With ISG, you can identify the root causes of cost, productivity and service quality issues, and design a roadmap to achieve excellence and sustainable results.

Featured Event

TechXchange: Banking, Financial Services & Insurance 2021

Watch the ISG TechXchange: Banking, Financial Services and Insurance replay to discover the trends that are defining the financial services industry today and in the future.

Watch the Replay

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