Insurance Core Tech Compendium

Reaching the next normal of insurance core technology

Now more than ever, insurers are focusing on reimagining the role of technology, reinventing technology delivery, and future-proofing the foundation of core technology. This compendium includes sixteen articles that dive deep into the what, why, and how.

Preface

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Reaching the next normal of insurance core technology

– Now more than ever, insurers are focusing on reimagining the role of technology, reinventing technology delivery, and future-proofing the foundation of core technology. Twelve articles dive deep into the what, why, and how.

Introduction

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Insurance resilience in a rapidly changing coronavirus world

– In times of uncertainty, carriers can pursue resilience through a staged approach to stabilizing, reimagining, and transforming operations.
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The CEO’s new technology agenda

– Technology performance has become critical to business success. Here’s how a CEO can focus the technology function on a company’s strategic priorities.

Reimagine role of technology

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The CIO challenge: Modern business needs a new kind of tech leader

– As technology becomes increasingly important, an organization’s success depends on whether the CIO can move from being a functional to a strategic business leader.
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Commercial lines insurtech: A pathway to digital

– Rather than fear the disruptive potential of insurtechs, commercial insurance executives should view them as a catalyst for digitization.
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The platform play: How to operate like a tech company

– For tech to be a real driver of innovation and growth, IT needs to reorganize itself around flexible and independent platforms.
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How to extract maximum value from a zero-based design approach to customer journeys

– Companies finding success in transforming their customer journeys are discovering that four practices are critical.

Reinvent technology delivery

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The journey to an agile organization

– You know what an agile organization is, and why it’s important. But figuring out how to pull off an agile transformation is another question.
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Flip the ratio: Taking IT from bottleneck to battle ready

– A new way to focus on outcomes and results can free IT organizations to spend more time on business priorities.
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Cloud adoption to accelerate IT modernization

– The cloud is a means, not an end. Success in modernizing IT through the cloud is driven by a complete standardization and automation strategy.
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Unlocking business acceleration in a hybrid cloud world

– Companies that have moved operations to the cloud still aren’t achieving the desired operational agility. A renewed focus on people, processes, and policies can unlock the cloud’s full potential.
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How Prudential Financial is tackling the future of work

– Prudential Financial vice chairman Rob Falzon discusses the criticality of people to digital growth, how Prudential is preparing its workforce for the future, and partnerships with the education sector.
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Digital ecosystems for insurers: Opportunities through the Internet of Things

– The Internet of Things has entered customers’ everyday lives around the globe and transformed business models across industries. This environment brings opportunities for insurers: to develop new products, open new distribution channels, and extend their role to include prediction, prevention, and assistance.

Future-proof the foundation

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Rethinking the technology foundation for digital transformations

– The McKinsey Perpetual Evolution™ approach will help established companies keep pace with digital innovation.
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IT modernization in insurance: Three paths to transformation

– Insurance companies can reap significant benefits from overhauling their core IT systems. Deciding which approach to choose depends on a range of considerations.
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Insurance 2030—The impact of AI on the future of insurance

– The industry is on the verge of a seismic, tech-driven shift. A focus on four areas can position carriers to embrace this change.
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Cybersecurity: Linchpin of the digital enterprise

– As companies digitize businesses and automate operations, cyberrisks proliferate; here is how the cybersecurity organization can support a secure digital agenda.