Search
 

Change for the Better

Change is inevitable, even for insurers. Leaders in the global market across all industries are not bracing for but rather embracing change. Positive transformation is modeled around true business agi

By Deborah Smallwood | Updated on June 30, 2008

Change is inevitable, even for insurers. Leaders in the global market across all industries are not bracing for but rather embracing change. Positive transformation is modeled around true business agility and innovation coupled with profitable growth–and it’s happening. Within the next two years, transformational business models will begin to realize their potential–expanding product offerings, reinventing service levels, and driving efficiencies to the fullest. The insurance industry, on the other hand, has become accustomed to bypassing any type of transformation.

As the global marketplace continues to evolve around the insurance industry, insurers will need to embark upon the true journey of transformation. External trends such as shifts in demographics and changing customer expectations are driving the need for underlying business processes and supporting technology to transform across the insurance industry. Attracting and retaining Generation X and Y as customers and employees are two of the biggest hurdles for insurers. These generations are not loyal to anyone or any company; they are technically savvy and have unprecedented expectations and demands.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.