Transformation & Innovation-2

Technology evolves rapidly and affects the way business processes are managed. Emerging technologies are transforming every aspect of the insurance business, making it easier to be more customer centric, optimize costs and improve operational efficiency. Thanks to ICG and Applied Innovation, Insurance Players can explore new business models, and automate the value chain process through the use of Artificial Intelligence (AI), Robotic Process Automation (RPA) and block chain technology ( distributed ledger). They are also leveraging Application Programming Interfaces (APIs) to seamlessly integrate with other stakeholders and advanced analytics to deliver customized offers while improving underwriting operations. These digital capabilities will enable insurance companies to effectively reduce operating costs and human errors, improve speed and accuracy, and help deliver a better customer experience.

By adopting emerging technologies, Insurance Players can achieve business benefits such as increased revenue, reduced risk, improved operating costs, improved underwriting margins through careful pricing and reduced losses. Businesses are facing digital disruptions that lead to organizational transformation of IT to cope with fast-moving competitors or to take advantage of new digital opportunities. To prepare for rapidly changing market conditions, people, processes and technology systems need to become more agile, flexible, innovative and responsive, minimizing disruption and risk to current business and technology operations. ICG’s IT transformation consulting service addresses all aspects of IT transformation, from strategy to execution, enabling organizations to respond to change quickly. By developing a lean IT management approach by maximizing the use of IT resources to support business agility, flexibility and innovation, companies can eliminate organizational silos, reduce costs and time, raise quality and sustainably increase adaptability and value. ICG’s deep technology expertise, digital focus, agile structure and software engineering help organizations thrive in the digital age seamlessly and at optimum cost.