Are you building a "Digital Maginot Line" to defend against innovative carriers, disruptive insurtechs or encroaching digital giants? Fighting yesterday's innovation battles?

One symptom that you are is waffle strategy statements that sound just like other insurers.  

 "We are watching significant demographic and customer preference shifts. The average age of when people get drivers licenses is increasing for the first time. The number of investment options is unprecedented. Flexibility and agility in career planning are critical; continuous learning is essential. Traditional products, even with new bells and feature whistles, may not meet market demand."

Robert McIsaac 14th Feb 2019 in Digital Insurance.

You inhibit your chances of successful innovation unless your insurance platform has inbuilt iterative development. In which the BUSINESS and not IT can constantly iterate and constantly improve. That supports a Fail Fast, Fail Often, Learn & Apply approach.

You just cannot know every future bell and whistle that will make your online claims process the leader in class. Only a laser like focus on the customer and constant testing of new benefits will let you deploy the best digital claims experience augmented by human empathy and support.

Legacy core systems of record are high on the list of inhibitors to insurance claims innovation. The "Maginot Line" platforms that were meant to defend against upstart competitors.

Even modern leviathan insurance platforms chain you to complexity, long lead-times and excessive costs. Yet they lie in the books at high asset value and are too expensive to rip out. 

Where is the future-proof digital claims platform that stitches together these core systems with the tools that are vital in winning customer delight and collapsing costs? 

  • AI powered vehicle damage assessment
  • Live video streaming to patch experts with on site operatives
  • Digitally transformed services like subsidence
  • Global weather conditions
  • Booking claimants into appointments- auto repair shops, vets, doctors, credit-hire

Two come to mind. 

360Siteview and SnapSheet.

If you want to avoid being stuck with old solutions like the Maginot Line best to look at the agile alternatives that let you deliver world class solutions today, keep innovating to stay that way and anticipate the needs of customers that are still to emerge.