Insurance companies today face unprecedented headwinds: historically low investment portfolio returns, stagnating premium growth and rising costs going toward increasingly complex core business applications with a remote employee and contractor workforce. Pressure is mounting for carriers to meet the needs of policy owners, producers and regulators and to bring new products to market more rapidly.
Enterprises that rely on ISG’s research and benchmark data on software, infrastructure, IT services and network providers know how to position themselves for cost efficiencies and leverage innovative strategies and solutions for the future. Our insurance practice specializes in three areas; Cost Optimization, Digital Automation and Modernization.
ISG can help you take on critical projects and gain competitive advantage. Increase the value you get from technology partners, identify new strategic suppliers, optimize your carrier’s voice and data networks, ensure your costs and SLAs are best in class and renegotiate software licensing and maintenance agreements to achieve the greatest value. We can also help you modernize your contact center so it operates efficiently with a work-from-home model and leverages the latest automation technologies and network innovation.
ISG has extensive experience in helping insurance companies evaluate and enhance on-premises, cloud and outsourcing decisions for critical software platforms, business processes, IT and third-party administration (TPA) services. Our research on insurance platforms, software, and BPO and TPA service providers will give you the information you need to make informed decisions. ISG can help you evaluate insurance suppliers as part of a new or renewal contract to specifically suit your needs.
How can you insure competitive advantage?
Build operational excellence into your company with our:
- Digital frameworks and implementation roadmaps
- Templates for technology acquisition and sourcing
- Strategies to take advantage of new automation capabilities
- Assessments to gauge organizational readiness and change management
- Proven processes for retiring and/or replatforming legacy applications and migrating to cloud
- Framework to measure value of previous undertaken or current transformation programs
Rise above the market pressures to position yourself for the new future
ISG helps clients negotiate and benchmark hundreds of large contracts every year and has more experience and market data than anyone in the industry. We are prepared to take risks and invest toward the success of our clients.