Insurers to target social media and cloud computing in IT: Deloitte
June 19, 2012 by Canadian Underwriter
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Property and casualty insurance companies must address a range of “disruptive” technologies to succeed in a changing competitive marketplace, according to a recent report from Deloitte Consulting L.L.P.
The notion of “maintaining a high level of operational efficiency (is) merely table stakes,” the consulting firm noted in its report, Insurance Tech Trends 2012: Elevate IT for Digital Business. “Insurers are investing in technology enablement. . . with the goal of spurring real innovation now.”
This innovation spending is mainly directed towards social and mobile computing, “a tangible manifestation of the concept that customer needs and experiences will drive marketplace differentiation,” Deloitte stated. “The doors are now open for social business. Leading insurance companies today are applying social technologies like collaboration, communication and content management to both internal (think employees and agents) and external (customers and prospects) social networks.”
Cloud computing is another emerging area of adaptation for insurers, according to Deloitte. “Most insurance organizations are behind the maturity curve on cloud technology, but there is broad acknowledgement that they need to catch up quickly and proactively develop a cloud strategy before one is thrust upon them.”
The full report can be accessed at:
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