I had the opportunity to work for a major property and casualty insurance provider that was well on its way with technology research, development investments, tech deployment phases and business transformation. Technology
As part of a strategic 5-year plan, that carrier was eager to use emerging technologies in the areas of artificial intelligence (AI), augmented and virtual reality (AR/VR), machine learning, robotic process automation (RPA) and big-data analytics to achieve a competitive advantage, enhance operational efficiencies and foster a more satisfactory customer experience.
Now, the current global pandemic is accelerating insurance carrier-innovation timelines.
OVID-19 presents unique challenges to commercial, specialty and personal lines insurance. Nonetheless, it is more important than ever for the P&C industry to continue to innovate in order to prevent potential disruption in claims, premium trends, customer experience and more.
Insurance is intertwined with a broad spectrum of economic activities. It follows that information technology services are vital to support insurance carrier and partner business.