Emerging technologies like digitalization, connectivity, cloud computing and big data analytics are disrupting the insurance industry. The document discusses how these technologies are changing how insurers engage with customers, manage their business operations and data, and contract for services. It suggests that for outsourcing buyers and providers, this means opportunities to improve operational efficiencies through automating processes, contracting for outcome-based services, and buying applications instead of building them.

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Emerging Technologies
are Raising the Bar for Insurers
Clay
Calhoun,
Bob
Krohn,
Ray
Shehata

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Agenda
o Digitalization is DISRUPTING the insurance industry
o What does this mean for sourcing buyers and providers?
o Takeaways

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Insurers face a challenging reality...
strict regulations fickle customers uncertain economy

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and the added complexity of growth.
Mergers and acquisitions
+
+ +
+

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Meanwhile…emerging technologies are
changing the rules of the game.
ConnectivityDigitalization Cloud Big Data & Analytics

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Digitalization is disrupting the
entire business model.
from the front office
o Policy application
o Claims submission
o Access to and portability
of information
o “Know thy customer”
o Electronic health records
to the back office
o Customer Records
o Policy Administration
o Claims Management
o Image and Data Management

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Connectivity is reinventing how
insurers engage with customers.
Applications? Network? Data privacy? Security?

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The cloud is changing how
companies contract for services.
Understand
Current costs
Evaluate
Applications
Model
Scenarios
Evaluate &
Continually Procure
Business Case &
Technology Business
Management
Application &
Organizational
Readiness
Design, Deployment
& Sourcing Model
Strategy
Provider Evaluation &
Platform-based Sourcing

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Big data and analytics
are enabling companies to
o refine market segmentations strategies
o help reduce “fraud claim”
o predict behaviors and actions
o model risk
o make informed decisions

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What does this mean for outsourcing buyers
and providers?
Improving operational efficiencies
o Eliminating costs
o Improving margins
o Replacing labor with
automation
o Employing Business Process-
as-a-Service
o Contracting (and paying for)
outcome-and results-based
services
o Buying—not building—applications
o Implementing shared services

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