X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Karen Pauli authored the recent research note, “Transformational Technology and Organizational Change: Insurance Carriers’ Chicken-or-Egg Question,” which provides an illuminating overview of the five technologies most sustainable for insurance carriers’ business operations in 2009 and into 2010. Claims’ Senior Editor Christina Bramlet caught up with Pauli to find out what insurers can do today to cultivate a technology vision to remain profitable tomorrow.

Why even consider implementing technologies during an economic downturn?

There are no easy ways for insurers to grow revenue substantially right now. Implementing now is perhaps the only way carriers are going to get expenses out of an organization and manage their bottom-line results. Many companies have been lowering expenses through staff reduction. Now the vast majority of carriers are at point that if they reduce staff more, then it will become damaging to the overall business. So carriers need to find other ways to improve business processes. If you don’t introduce technology in order to remove unnecessary human involvement and fill in deficiencies, then you will exacerbate the problem. Also, consumers now expect more out of carriers, including 24/7 access to services. Emerging technology is the only means by which to provide that service.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.