Everest Group’s Post

The Target Markets Program Administrators Association (TMPAA) 24th Annual Summit is just around the corner! In booth #27, our team of experts will be sharing how our program management solutions are streamlining everything from carrier relationships to compliance for program professionals. See you in Scottsdale! Ashim Khurana I Michael Scunziano I Soumojit Ghosh I Martie Cowsert Streit #Insurance #Insurtech #PropertyCasualty #ProcessReEngineering #Insurance #Insurtech #DataAnalytics #BPM

Being at a crossroads means you reached a stage that requires a very important decision to go one way or the other with different results and consequences. This is where the insurance industry is right now.  Current business and technology frameworks no longer meet the challenges, demands, and opportunities of today's dynamic and fast changing world, let alone tomorrow's. The primary challenge is the significant legacy debt generated by old operating models underpinned by multiple legacy core systems, technology architectures, and archaic business processes. Attempts to place new technologies on old foundations haven't achieved their intended value. Legacy architecture and operational models are an unstable foundation. Their weakness is decades of modifications, myriad constraints and growing business challenges. Operating models are proving to be inefficient, unprofitable, and experience-constrained. Layered technology has added complexity that has increased costs rather than decreasing them. The way forward must include both operational and innovative initiatives to drive transformation of today’s business model and technology foundation based on a strategy and priorities for the entire operation. This can bend the cost curve that drives profitable growth and efficiency and creates competitive differentiation for customers — and bend the learning curve for talent to manage the growing need for talent -- creating sustainable competitive differentiation. Where each insurer starts in their strategy and priorities differs but must address every aspect of the business. It requires an investment in the future, not the past.  The time to start is now. #innovation #optimization #transformation #futureofinsurance #yournextnow Lisa Wardlaw Sabine VanderLinden Ema Roloff Nigel Walsh Bryan Falchuk Steve Anderson Evan Kirstel B2B TechFluencer Florian Graillot Dr. Robin Kiera Megan Kuczynski Insurtech Insights Patrick Kelahan Samantha Chow Bobbie Shrivastav, MBA, PMP, PMI-ACP, CSM

New Thought Leadership from #Majesco Underscores How the Insurance Industry is at a Crossroads for Their Operating Model and Technology Foundation. https://ow.ly/eKuU50RIclU #Insurance #ThoughtLeadership #DigitalTransformation #Insurtech #Innovation #FutureOfInsurance #yournextnow

On Profiles in Risk - Ep. 605, I chat with Luke Fraser, CEO at Stepwise Innovation. They are a research and design firm that helps insurance carriers understand their customers as people and then develop growth strategies as a result of that which might include new products (both insurance and non-insurance) and new growth strategies. LINK TO THE SHOW IN THE FIRST COMMENT! #Insurance #Insurtech #ProfilesInRisk

Need something to listen to on your lunch break? 👇 Make it this Profiles in Risk episode featuring Stepwise CEO Luke Fraser and the great & powerful host — Tony Cañas! #InsuranceNerds #Podcasting

If Digital Transformation or legacy systems issues in the insurance world are something you're struggling with, give Mark a shout and meet up at the Insurance Transformation Summit on 20th June in London.

As the insurance industry moves beyond the first wave of insurtech, the demand for digitalization across the value chain is more critical than ever. While insurers have made progress in their digital journeys, there is still much work to do. Nathan Golia, Senior Analyst on our P&C Insurance team, emphasizes that savvy founders have a unique opportunity to address the needs of carriers. By fostering collaborative partnerships, they can help transform the digital landscape of the industry. Discover how: https://bit.ly/4eE6QFD #insurtech #DigitalTransformation #insurance

Navigating the digital dilemma: Should insurers transform into IT organizations? Discover why collaboration might be the key to innovation in insurance. Explore more insights in our latest post. #insurance #insurtech #technology https://lnkd.in/eFVZ3f2q

Off the heels of #CCUSA and #GuidewireConnections, this timely article by Laura Drabik explores how leveraging an insurance ecosystem - alongside integrated technology partners - can quickly meet rising risks and evolving customer expectations. https://hubs.li/Q02YXTRm0 via PropertyCasualty360 #insurtech #insurance #propertyandcasualty

Commercial Insurance Value Stream: Business Partner Interaction In each of the steps along the value stream, business partners are integral to the process providing expertise, services, or technology that enable the insurance company to serve mid and large corporate clients effectively. The collaboration with these partners ensures that the insurer can offer tailored solutions that meet the complex needs of larger corporations, manage risks effectively, and maintain high standards of customer service. Check out the interactions along the value stream below! #EnterpriseArchitecture #Insurance #Insurtech #DigitalTransformation