Would insurers rather be enticed and pulled into the future bythe motivation and promise of transformationaltechnologies or pushed into transformation bycircumstances that lie outside of their control? This is a questionevery CEO and CIO should face and answer as they evaluate the nextsteps in modernization that will lead to their secure futures.

In the past, the forces that had a bearing upon insurers andtheir businesses were primarily competitive, lying within theinsurance industry itself. Today, however, pressures coming fromoutside the industry, such as a digital way of life and widespreadconsumerization, are weighing upon the capabilities of entrenchedsystems and processes. The entire insurance industry, as a whole,is grappling with prototypes that will keep it relevant. A closelook at the business with an eye on the future will yield a greaterunderstanding of the reasons insurers need to transform.

In general terms, transformation is a matter of businesspriorities. Insurers need to transform to improve the business andmeet business imperatives. This idea isn't new. But insurancecompetitiveness is now at the forefront of industry concerns.Remaining competitive and growing the business is the main reasonthat transformation must occur.