Customers have more options than ever before, so they're pushing insurers to improve the way in which they run their businesses. If one carrier can't deliver the right products and services -- at the right time and in the right way -- then policyholders will find an insurer that can. In response, insurance companies are redesigning their service delivery models to be more accommodating.
Undoubtedly, this trend has major implications for the IT department, including:
- One-stop-shopping-enabled quoting systems.,
- Web-based policy administration.,
- Expert-based claims applications.,
- Automated fraud-detection capabilities.,
- Enhanced security and identity-protection technology.,
In turn, insurance industry CIOs must be prepared to partner with their business area counterparts to plan and deliver the type of technology solutions that will serve to differentiate insurers in the marketplace.