Knowing where to allocate limited IT budgets and resources with seemingly unlimited technology options will be an ongoing challenge for all stakeholders. (Free use image/ALM Media archives) Knowing where to allocate limited IT budgets and resources with seemingly unlimited technology options will be an ongoing challenge for all stakeholders. (Free use image/ALM Media archives)

Insurers have changed in the last decade, slowly transforming outdated business practices to bring more flexibility and agility to operations and customers.

The initial challenge wasn’t so much an aversion to new technology as it was about skepticism and resistance towards disrupting proven business models that have been in place for years. The famous book “The Innovator’s Dilemma,” by Clayton Christensen, described this kind of predicament. Does a company serve its customer base with incremental improvements or bring disruptive solutions to market that potentially alienate their existing customers?

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