Applied Innovation & Digital Strategy Transformation
Technology is evolving rapidly and disrupting the way business processes are handled. Emerging technologies are transforming every aspect of the insurance business, making easier to be more customer-centric, to optimise costs, and to improve operational efficiency. Thanks to Applied Innovation, the insurance players can explore new business models, value chain process automation across using Artificial Intelligence (AI) and Robotic Process Automation (RPA), and block chain (distributed ledger) technology. They are also leveraging Application Programming Interfaces (APIs) for seamlessly integrating with other stakeholders, and advanced analytics to provide personalised offerings and improve underwriting operations. These digital capabilities will enable insurance firms to effectively reduce operational costs and human errors, improve speed and accurancey, and help provide better customer experience.
IT Transformation Consulting
By adopting emerging technologies, Insurance players can realize business benefits such as increased revenue, reduced risk, improved operational costs, better underwritign margins throught tighter pricing accurancy, and trimmed claims leakage. Businesses are facing digital disruptions prompting IT organizational transformation in order to deal with fast-moving competitors or to capitalize on new digital opportunities. To prepare for rapidly changing market conditions, individuals, processes and technology systems need to become more agile, flexible, innovative, and responsive, while minimizing disruptions and risks to current business and technology operations. ICG’s IT Transformation Consulting Service addresses all aspects of IT transformation, from strategy through execution, allowing organizations to respond to change with grace. By developing a lean IT management approach through maximizing the use of IT resources in support of business agility, flexibility, and innovation, companies can eliminate organizational silos, reduce cost and cycle time, elevate quality, and sustainably increase adaptability and value. ICG’s deep technology expertise, digital focus, agile culture, and software engineering background help organizations thrive in the digital era without disruption and at optimal costs.