There is increasing recognition at the C-suite level that internal technology teams are more than capable of managing the core systems. However, they may not have the mindset to experiment and innovate. (Photo: metamorworks/Shutterstock)
Despite the huge advances in technology, I sometimes feel like nothing has changed in insurance operations and claims. I have been working in this space internationally for the last 20+ years in chief operating officer (COO) insurance company roles and now in management consulting and technology solutions. From first-hand experience, I am not sure the customer feels like much has changed either. Why is this the case?
Why the inertia?
Technology has had its limitations in the past and large insurers have struggled with legacy operating systems that have been expensive to customize, integrate with new solutions or change out. It has been easier to innovate on the edges or in the back office than in the core customer operations and experience delivery.
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