For the insurance industry, IT must be classified as the most important production factor, although its importance will increase as our society becomes more digital. A particular challenge arises from the fact that essential functionalities and processes of many insurance companies are still mapped in old IT systems and must continue to be operated. For an intensive support of this customer group, therefore, not only experience with proven technologies, e.g. using host systems, is required, but also innovative approaches both in the project approach (agile methods vs. classic project management) and in the development environments and tools to be used.
Insurance
Digitisation in the insurance industry
Challenges in the insurance industry
Traditional insurers are coming under increasing competitive pressure from start-ups and Internet giants such as Google and Amazon, which continue to push into the market. IT consulting is expected to provide solutions for the following challenges:
- Meeting increased customer expectations through digitalisation
- Strengthening competitiveness
- Reduction of sales and process costs
- Ensuring governance and compliance rules
- Modernisation of IT and application landscapes
Use Cases in Financial Services
Numerous factors favour the current upheaval within the industry. In addition to constant competitive pressure, the low interest rate environment, new regulations and demographic developments, digitisation is a real opportunity for many providers to increase their own share of a market that is hardly growing at all. Whether digitisation is successful depends largely on whether companies can offer their customers a comprehensive customer experience. Customers of financial service providers are demanding new solutions ever faster.
Fully automatic "just in time" policy issuing
High Level Experience
Expansion of market share
Our IT experience in the insurance industry
PTA Unternehmensberatung has been supporting insurance and reinsurance companies for over 25 years in the design and development, and increasingly in the reengineering, of their information systems. In almost 300 projects, experience has been gained in almost all types of insurance and functional areas, and current developments in insurance IT have been accompanied, in particular by working on bimodal developments. The following focal points can be highlighted:
- CRM: individual and standard systems
- Optimisation of consulting processes
- Implementation of regulatory requirements such as IDD and EU-DSGVO
- Optimisation and extension of the standard system ICIS
- Integration of traditional computing cores in cloud applications
- Implementation of BiPRO interfaces
Below you will find some selected references regarding IT support in the insurance industry:
Industry focus
In our industry focus you will find further information on successfully completed projects in the industry
“Insurance”, clearly structured according to the processes you are familiar with:
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