LenderDock’s Post

As someone new to the insurance industry, I'm constantly surprised by how insurance companies can drive innovation and transformation across multiple industries.

On this Environment Day, let's commit to safeguarding our planet's future. Just like insurance provides protection against life's uncertainties, our collective actions today can ensure a healthier, greener world for generations to come. #EnvironmentDay #SustainableFuture #PlanetProtection #bfsi #insurance #insurtech #fintech #WorldEnvironmentDay

🚀 Insurance innovation depends on digitalization – now and in the future. But additional trends are also influencing how the industry evolves alongside a rapidly transforming landscape. Read on for more ➡️ https://lnkd.in/dn8K-h6P Sibylle Fischer #BaloiseNews #Insurance #Innovation #Digitalization

From startups to seasoned enterprises, protecting your business is non-negotiable. No matter the industry or size, it is prudent to be shielded against the unforeseen. Let’s walk the journey with you- We are a call away #MythvsFacts #ChooseBanbo #WeGiveUMore #InsuranceGhana #Insurance #InsuranceBrokersGh #InsuranceBrokers #InsuranceAdvisor #MoreThanInsurance #InsuranceTechnology #InsurTech

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

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

As businesses, especially in the insurance sector, undergo digital transformation to enhance productivity and efficiency, making sure your organisation understands its position in the digitisation process is crucial for future progress. If you don’t transform at pace, your competitors will – and some have already leapt in headfirst. See what stage you are at by reading our most recent article now ➡️ https://lnkd.in/efBQ2ZaQ #digitaltransformation #digitaltrading #insurance #digitalinsurance #whitespaceplatform #whitespacesoftware 

"A new insurance business model is just as relevant as ever. It is an engine for growth that will pay dividends by accepting the realities of today's world instead of making today's customers conform to insurance's past." By Denise Garth https://ow.ly/brYn50Tnhk1 #Insurance #Innovation #Insurtech #FutureOfInsurance #DigitalTransformation #BusinessGrowth #Majesco #Blog

Over the last ten years, most insurers have been on a non-stop quest to transform and optimize the business, but unfortunately for many, their e­fforts have often been incremental and short-sighted; creating or intensifying many of the operational challenges faced today. Insurers must move beyond the legacy and internal mindset of “this is how insurance is done,” to one that recognizes the world has shifted and we must as well. Insurers realize current operational business models are falling out of synch, and the technologies that provided their foundation must be re-tuned or replaced.  A key challenge is dealing with significant legacy debt in terms of old business operating models and technology foundations – even those implemented in the last 5-10 years - that hinder the ability to execute profitable growth strategies that address protection gaps and customer needs, particularly with the shifting risk and changing demographics.  

Looking forward to the Insurance Transformation Summit to discuss and learn about the future of #insurance and their #digitaltransfortmation journey! Let's connect, chat or grab a drink! Pdftools #InsuranceTech #Innovation #Transformation #InsuranceSummit