Insurance in the Digital Age: Unleash Modernization Strategies with Info-Tech

February 7, 2024
1 min read

TLDR:

  • Info-Tech Research Group has published a blueprint called “Modernize Your Applications for Insurance” to help IT leaders in the insurance industry drive digital evolution.
  • The blueprint aims to empower IT leaders with insights and strategies for modernization, addressing challenges such as legacy systems and rapid market evolution.
  • Key recommendations include focusing on functionalities that meet end users’ needs, prioritizing user-centric design, building adaptable applications, ensuring accessibility, and maintaining security and privacy.

Insurance companies are under pressure to modernize their applications and embrace digital transformation to stay competitive in a fast-paced market. In response to this need, Info-Tech Research Group has published a blueprint called “Modernize Your Applications for Insurance” to provide IT leaders in the insurance industry with strategies and insights for effective modernization efforts.

Info-Tech’s research highlights challenges faced by insurance companies, including legacy system constraints and the need to adapt to rapid market evolution. These challenges make modernization efforts complex and hinder the ability of the insurance industry to adapt and innovate.

The blueprint emphasizes the importance of a strategic approach to modernization, taking into account the business and technical complexities of the insurance industry. Key characteristics and activities to drive business value include:

  • Ensuring functionalities are designed and implemented to satisfy end users’ needs and solve their problems
  • Prioritizing user-centric design and creating applications that are engaging and intuitive for users
  • Building applications that can be quickly tailored to meet changing needs with reusable and customizable components
  • Ensuring seamless user experiences across all devices
  • Ensuring privacy and security of user data to maintain trust and compliance
  • Delivering accurate and trustworthy real-time data to end users
  • Facilitating direct interactions with other applications to provide an uninterrupted user experience
  • Enabling and promoting the connection and interaction of people through applications

According to Info-Tech, digital transformation is no longer a luxury but a necessity for insurance companies. By embracing a modernized approach and addressing technical complexities, insurance companies can position themselves as leaders in innovation and remain competitive, agile, and responsive to the evolving needs of their customers.

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