Technology is transforming the insurance industry. Milliman’s Integrate team finds it easy to think of the impact of these disruptive technologies in four categories: customer engagement; employee empowerment; new products; and operational efficiency1. Technology developments have meant insurers can understand their customers better, allowing them to engage in more efficient ways and design new products to better meet their needs. And from an employee perspective, replacing legacy systems and focusing on automation will mean staff can work more efficiently, freeing up time for the more important and exciting areas of their role.
1 Digital Transformation Outcomes as described by Satya Nadella, Microsoft CEO at Inspire 2017