Insurance

Insurers continue to face a challenging environment on the account of rising operating costs, significant losses from catastrophic events, reduced demand, decreased growth in developed markets and low investment yields. The situation is compounded by the rapidly changing customer buying behavior and ever-widening regulatory landscape.

Global insurers are making technology investments to reduce costs and improve customer retention – multi-channel integration, mobility, enterprise risk management, data analytics and business intelligence, social media, fraud detection, legacy modernization and cloud computing.

The impact of a decade of mergers means insurers are more focused on increasing operational efficiency by investing in legacy modernization and innovation initiatives to transform their policy and claims administration systems.