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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

Article

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

Article

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.
Article

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

Article

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.
Article

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.
Article

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.
Article

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

Article

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.
Article

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.
Article

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.
Report

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.
Interview

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.
Article

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.
Article

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.
Article

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.
Article

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.