Our world is being transformed at an exceedingly rapid pace by numerous influences. This is not only about InsurTech, new products, models, and emerging technologies. It is also the way we buy, deploy, and depend on core systems.
Karen Furtado asked one very important question in her recent blog, "Can the whole insurance ecosystem embrace fast implementation, the flexibility to change products on the fly as new opportunities arise, and accessible integrations and APIs to be able to leverage advancing technologies?”
We know that this will require a new mindset for both insurers and solution providers. Insurers must rethink their approaches to core projects to meet the demands created by the pace of change and the shifting market. Solution providers must ensure that their solutions support the speed at which insurers need to move.
And the great news – we are seeing rising levels of convergence as companies work to blend their traditional practices with innovative business and technological methods. Insurers are working to modernize and transform their businesses to make themselves modern, responsive, and agile and by blending the new with the conventional. And solution providers are investing in their architecture and solutions for content rich cloud-based adaptable solutions.
This is why we have launched our latest survey on the State of Policy, Billing, and Claims Software - click here to participate - to track and understand this shift in needs and state.
And of course, to continue with the theme of convergence, there is the 2017 SMA Summit - Winning in Convergence coming up September 18th in Boston. Look for the website and registration to launch in early March. We are deep into planning and lining up an amazing agenda with leaders who will be sharing their stories on innovation, transformation, and becoming a Next-Gen Insurer.
In the words of John F. Kennedy: "Change is the law of life. And those who look only to the past or present are certain to miss the future." SMA is here to help you look toward that future.
All the best,