Insurance
Insurance Challenges and the IT response
Insurance as a business is undergoing significant changes driven by tough economic environment and cut-throat competition. In an extremely competitive environment insurers have to differentiate almost similar products, chase the same set of customers and distribute insurance products through similar types of distribution channels.
This competitive environment creates unique challenges for insurance organizations in terms of employee productivity, organizational responsiveness, regulatory pressures, talent management and cost control.
Going forward the ability to differentiate in terms of knowledge, deliver insights along with a inherent capability to innovate and ability to attract and retain best talent will decide the winner.
Using standard technology solutions insurers have responded very well to automate standardized processes. However while this has been addressed by insurance specific proprietary IT solutions the inherent need to capture the value-creating ‘human knowledge inputs’ has not been served well using standardized proprietary solutions.
Insurers now understand that IT trends such as open source can be used well to deliver solutions that bring out the knowledge of its workforce effectively, helps deliver business insights and turn it into competitive advantage.
Leveraging Open Source for Insurance
Its time to take a hard look at how the Open source model can help insurance organizations solve some of the challenges faced. There are two main areas that stand out in terms of leveraging open source model for Insurance business.
- Knowledge Management of insurance internal work force to bring out the human capital and enhance productivity through knowledge sharing
- Delivery of Business Insights on top of existing IT systems
From a technical point of view both these areas are very well evolved in open source now and InfoAxon as a open source integration company can help insurance organizations leverage open source in the above two areas.
How our vertical focused open solutions help?
We have created open source powered by open source technologies, packaged them with specific insurance use cases and created innovative open source solutions to serve business need to manage content and internal knowledge and delivery of business insights.
Have a look two of our vertically bent solutions for insurance in fuller detail below:
Instasure
A pre-integrated open knowledge management platform for Insurance organizations. Quickly facilitates collaboration and knowledge creation, retrieval and sharing among the different departments and functions. Delivers shared collaborative knowledge spaces modeled around Insurance organization workforce to improve the knowledge management environment.
Business Intelligence Solutions for Insurance
Open Source Business Intelligence solution for Insurance that delivers dynamic dashboards and reports on top of existing BI and Data warehouse investments. Delivers data insights as a service through a internally hosted platform.
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