- Weekly Insurance Global Analysis
- Poll indicates big data/analytics will be main source of competitive differentiation for insurers
- Innovation Group releases Innovation Data Mastery Maturity Model
- Conning study identifies US personal lines insurer leaders
- UK Treasury announces Insurance Growth Action Plan
- Zurich presents on 2014-16 strategy
- Major UK insurers commit to invest in infrastructure expired
- RAA announces sixth edition of Catastrophe Loss Development Study expired
- Geneva Association winner of Initiative of the Year Award expired
- MAPFRE heads multi-nationals in Latin America expired
- Moore Stephens warns on busy regulatory period ahead expired
- AEGON completes second longevity transaction in the Netherlands expired
13th June 2012
Deloitte reviews insurance IT trends
For the third year running, Deloitte has published its annual Technology Trends report—a detailed look at the most important technology developments that will influence the world of business technology over the coming year. Year after year, this report is widely anticipated among technology leaders working in a range of industries.
Deloitte comments " Among those of us who work solely with insurers, our clients want to know how these trends will specifically affect their businesses. After all, the insurance industry faces its own unique set of technology challenges and opportunities. What do these trends have in store for the insurance industry in particular?
That is why we have published our own take on the 2012 Technology Trends report—to offer insurers a tailored look at how these trends might help them think differently, seize new opportunities and accomplish meaningful business results.
This year’s topics were chosen based on their potential business impact over the next 12 to 18 months, using input from clients, analysts, alliances and our network of academic leaders and subject matter advisors. Many of this year’s trends build on those identified in past years and are the result of the ongoing refinement and evolution of technologies that are taking on growing importance in the marketplace. For example, the issue of “Big Data” is moving out of the academic world and quickly gaining traction in a range of mainstream commercial environments. It’s no secret that technology leaders in insurance companies are becoming more business focused with each passing year. They are facing increased pressure to innovate and to help solve ever more complex business problems. Keeping the lights on and maintaining a high level of operational efficiency, are merely table stakes. Insurers are investing in technology enablement and seeding innovation processes in the realm of Information Technology (IT) with the goal of spurring real innovation now.
This year’s trends build on the continuously emerging phenomena of social and mobile computing—a tangible manifestation of the concept that customer needs and experiences will drive marketplace differentiation. Meanwhile, insurers are facing changing demographics, buyer values and increased demands for transparency—and many of these technology trends have a role to play in those efforts."