Dinosaur to Disruptor: Insurance
Added Friday 23 October 2020 by Prolifics
Date: 10th November 2020
Time: 12:00PM – 12:35PM (GMT)
The insurance industry is moving faster than ever, with growing importance being placed on innovation, while combatting Insurtech disruptors who can provide seamless, on-demand services in a matter of days compared to months.
Insurers are looking toward Cloud-based solutions to provide competitive advantages in better serving their clients but are falling short, hindered by monolithic, legacy systems which are costly to manage, slow to adapt to changing landscapes and lack the crucial cloud-native architecture to leverage important leaps in technology, such as containers.
This poses two key questions;
- Can your legacy systems deliver for you beyond 2020?
- Can your organisation afford to maintain a growing, already potential untenable legacy estate?
Gartner predicts that by 2025 technical debt will continue to compound on top of existing technical debt consuming more than 40 percent of the current IT budget.
As we adjust to a new insurance landscape, now is the time to act. Creating an agile, optimised application, ready for the Cloud provides a myriad of opportunities including lower risk, reduced testing costs and faster deployments to actively manage and reduce technical debt allowing for “at least 50% faster service delivery times to the business (Gartner).”
Join Prolifics and the IBM team, as we bring your modernisation plans to the forefront and help turn a dinosaur into a disruptor.
12:00 - 12:10
The Insurance Ice Age?
As COVID-19 hit, the lack of agility in insurer’s IT systems were plain to see, with many unable to quickly adapt to the changing landscape. We explore why a lack of modernisation skyrocketed costs and hindered innovation when it was most needed.
12:10 - 12:20
It Came From The Cloud
Creating competitive advantages requires the right technology; with more and more insurers looking to Cloud-based solutions, creating an architecture that is future-proof enough to adapt to the changing landscape is crucial.
12:20 - 12:30
Dinosaur to Disruptor
Innovation is at the heart of disruption. We look at how insurers are beginning to transform into disruptors, creating new, customer-centric applications that combat insurtechs competition.