Insurance: Converging Customers, Cost Management and Compliance
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Overview: In general, the global financial crisis has not hit the insurance industry as hard as the banking or investment industry, but all insurers, both local and global, face mounting challenges. Insurers face a new consumer world: Policy holders and prospects lack both trust and disposable income, and the new generation demands unprecedented choice of products and services, rates, flexibility, communication and interaction channels and quality of care. As challenges always provide chances, the future looks good for the insurance industry as a whole.
This white paper explores challenges the global financial crisis has had on the insurance industry and how a holistic approach to cost and risk management, operational efficiency, and customer value will come out as clear winners, driving income, profit and business growth. Globalization and today’s technologies are working in favor of those organizations.