IVANS Inc., the provider of insurance data exchange, announces the Top 5 technologies carriers are investing in or planning to implement over the next 12 months are: underwriting solutions, policy-administration systems, consumer portals, predictive analytics/business intelligence and mobility/virtualization.
"We are seeing carriers focus on infrastructure, product innovation, analytics and automating workflows to maintain growth and create market differentiation in an increasingly challenging economic and regulatory environment," says Clare DeNicola, president and CEO of IVANS. "The challenge is creating a clear strategy on value creation that aligns technology with business and optimizes the benefits with a carrier's business partners. Those who are successful will be able to capitalize on new market opportunities and foster long-term growth."
According to IVANS 2011 Carrier Automation Trends study, 49 percent of carriers that responded are investing in underwriting solutions to boost efficiencies and grow their business. Speed-to-market has become critical, and carriers looking to differentiate themselves are investing in underwriting applications that incorporate real-time processes and create greater visibility in the front end of their value chain.
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