PriyaPatel
TLDR:
Deloitte has launched Insurance Growth Suite, a cloud-native platform to help unlock the future of insurance. The platform offers pre-integrated, pre-configured insurance solutions to accelerate implementation and reduce time to market, cost, and complexity.
Key Elements of the Article:
- Insurance industry facing challenges with emerging trends
- Investments in technology solutions not translating to better customer experience
- Launch of Insurance Growth Suite (IGS) to future-proof investments and drive innovation
- IGS capabilities include digital experience, microservices-based platform, and core system acceleration
- Focus on shifting from reactive to proactive solutions in the insurance industry
Today, the insurance industry is grappling with emerging issues and trends, but investments in technology solutions are not translating into enhanced customer experiences. In response to this challenge, Deloitte has introduced Insurance Growth Suite (IGS), a cloud-native platform designed to help insurance companies future-proof their investments and drive innovation. The platform offers pre-integrated insurance solutions that accelerate implementation and reduce time to market, cost, and complexity.
IGS boasts capabilities such as digital experience delivery, a microservices-based platform called Insurance Fabric, common core + data acceleration, and a cloud-native framework. By leveraging these features, insurance companies can shift from reactive to proactive solutions, using technology to prevent claims and enhance the overall insurance experience for customers.
Moreover, IGS offers a cost-effective approach to migrating and operating on the cloud, allowing flexibility to add or remove environments, access to product-agnostic APIs, and the ability to scale solutions. This transformative approach has shown significant improvements in speed to market, with project timelines reduced from 18+ months to four to six months.
Whether insurance companies are looking to increase retention, drive profitability, or operate more flexibly, Converge by Deloitte’s Insurance Growth Suite provides a transformative solution. By combining industry expertise with enterprise-quality software and a curated ecosystem of data and technology partners, Converge aims to shape and transform the future of the insurance industry.
