Virtual delivery: The new normal for InsurTech operations

Insurers have previously relied on face-to-face meetings to execute new technology, but the new virtual environment allows greater collaboration and subject matter expertise. (Photo: fizkes/Shutterstock.com)

From increasing levels of online purchases to reduced travel to a shift to work-from-home, the insurance industry, like most industries, has been and continues to be impacted by COVID-19. Despite the pandemic, a recent survey of P&C insurers about switching to remote implementations found that when it comes to actual IT project delivery, 58% indicated they have “continued successfully,” 22% of projects were “already remote,” 11% have been “more productive,” while only 9% were characterized as “delayed or strained.”

Historically, the industry has relied heavily on face-to-face meetings for delivering implementations; however, over the past several years, many have embraced the idea of off-site delivery engagements, where projects involve a high proportion of project time being completed remotely. Let’s look at some of the key factors that determine how long a new technology implementation could take and how to excel at delivering effective solutions in the new normal of 100% remote work.