Responding to Priorities: What Insurance Leaders are Doing Differently
What do you think of when you think of a leader? Do you think of a person — one who leads — or do you think of a company — one that is out in front of the competitive pack? Is there a relationship between the leader/person and the leader/company?
The answer, of course, is yes. In some ways, this is the story of the Strategic Priorities 2019 report from Majesco. Leaders prioritize their insurance organizations in ways that will drive them toward industry and market leadership. Our findings about leader/companies are instructive. They demonstrate how insurance leaders are prioritizing in order to position their companies for success. Through their survey answers we can clearly see common traits and priorities among leading insurers.
If you would like to be a leader/person within a leader/company, you will find the rest of this blog to be highly informative as we share some of the details with you.
Now is the time for effective leaders InsurTech innovations sparked and heightened the need for definitive leadership. As the need for direction and action accelerates, the need for reasonable guidance accelerates right along with it. Without being rash, insurance leaders need to make sure they are moving the organization rapidly forward in order to capitalize on the market opportunities that are opening up. But they must prioritize efforts on those insurance capabilities that will help them reach the future of insurance.
Our Strategic Priorities survey began with high level questions surrounding the next three years and looked at insurer expectations across four areas:
- Business Model Development
- Product Development
- Channel Expansion
- Technology Upgrade/Replacement
Mid-Market Insurers Technology Imperatives and Unique Transformation Journey Insights
Mid-Market Insurers have made significant strides in their modernization journeys, with up to 43% in core system implementation in a given line of business. Operating in a different business environment than other P&C carriers, these insurers still have to keep pace with the business imperatives in meeting customer demands and growth objectives. New research on ‘P&C Midmarket Insurers’ Core System Environments’ was conducted by Strategy Meets Action (SMA) and sponsored by Majesco to understand the key pain points, business drivers and recommendations for Mid-Market Insurance Companies.
In this webinar you will learn about:
- What unique differences are there between Mid-Market insurers and others in the market? Do the differences pose unique opportunities?
- How are customer demands changing the way Mid-Market Insurers adapt themselves to the changing environment?
- How are Mid-Market Insurers prioritizing their replacement of legacy core systems like policy, billing and claims as well as data and digital initiatives?
- What are the changing dynamics of transformation ownership between business and IT?
- What is the role of e-delivery in the technology imperatives?
As you begin 2016, hear how your plans line up with your market peers and how Majesco’s unique business solutions and options empower your transformation.
Presented by Denise Garth (Moderator, Majesco), Karen Furtado (Speaker, SMA), Prateek Kumar (Speaker, Majesco)