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Insurers still struggling to execute modernization plans

Pricing and product personalization as the internal process that could benefit the most from modernization.

By PC360 Staff | November 21, 2022 at 11:16 AM
“Carriers have realized that they must prioritize insurance operations modernization,” Dror Pockard, chief strategy officer for Earnix, said in a release. “Adopting new technology is critical to help insurers to improve customer experience. The time for modernization is now; any delay will harm carriers’ ability to achieve their business goals.” (Credit: greenbutterfly/Adobe Stock) “Carriers have realized that they must prioritize insurance operations modernization,” Dror Pockard, chief strategy officer for Earnix, said in a release. “Adopting new technology is critical to help insurers to improve customer experience. The time for modernization is now; any delay will harm carriers’ ability to achieve their business goals.” (Credit: greenbutterfly/Adobe Stock)

Although insurance carriers have taken up the Herculean task of modernizing their operations, most are struggling to fully realize those plans, according to a survey from Earnix, which found that 90% of insurers have not fully developed and executed operation modernization strategies.

“Carriers have realized that they must prioritize insurance operations modernization,” Dror Pockard, chief strategy officer for Earnix, said in a release. “Adopting new technology is critical to help insurers to improve customer experience. The time for modernization is now; any delay will harm carriers’ ability to achieve their business goals.”

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