Insurance in the digital age
Tech giants such as Amazon, Google, Spotify and Netflix are setting new standards for user experience. Today's policyholders expect the same seamless digital experience – whether they are searching for information, selecting the right product or seeking customer service.
Modern web interfaces must be intuitive, fast and efficient – for customers, brokers, agents and case workers alike. Those who do not achieve this level risk being left behind by the competition. The digital transformation is everywhere, changing your business models in ever shorter innovation cycles, so that new requirements have to be implemented at shorter intervals.
Your transformation is our focus: with customized end-to-end solutions, you can optimize business processes and prepare for tomorrow's requirements – from conception to implementation and integration.
Discover Accso as your digital partner. Sustainable. Reliable. Authentic. We work with our customers to develop customized solutions to successfully implement the digital transformation in your company. Benefit from our expertise in over 2,000 projects.Software Engineering. Digital Transformation.
Your challenge: digitalization in the insurance industry
Digital transformation is confronting insurance companies with major challenges. After all, digitalization is changing both internal processes and customer requirements. Medium-sized insurers in particular are confronted with limited resources and a multitude of challenges. In this context, many insurers keep encountering the same questions:
- How can insurers with limited resources master digital transformation and remain competitive at the same time?
- How can they use digital technologies to optimize their processes and exceed customer expectations?
In an increasingly digital world, transformation is no longer a competitive advantage – it is a basic requirement for survival in the market. The challenges are known and manageable.
Digital challenges for insurers: dealing with legacy systems and more
Digital transformation poses numerous challenges for insurers. Medium-sized companies in particular must find innovative solutions with limited resources in order to remain competitive. They repeatedly encounter the same central hurdles:
Legacy systemsOutdated IT, complex data migration and increasing security requirements slow down digitization.
Outdated IT structures complicate digitization. Complex data migrations, high maintenance costs and limited integration options hinder the introduction of modern technologies.
Customer interfaceCustomers expect seamless digital services that provide information, enable purchases and cover all touchpoints.
Today's customers expect seamless digital services. The customer interface must not only provide information, but also enable the direct purchase of products. Customers must be able to interact with the insurance company across all digital touchpoints – from advice and contract conclusion to claims reporting.
Regulatory barriersStrict data protection requirements and changing regulations increase complexity and require continuous adaptation.
Strict data protection requirements and constantly changing regulations increase complexity and require continuous adaptation. Insurance companies must, in particular, deal with the following regulatory requirements:
- DORA (Digital Operational Resilience Act): New requirements for IT resilience and cyber security to minimize risks from digital dependencies.
- GDPR (General Data Protection Regulation): Strict requirements for data protection and the processing of personal data, which entail high compliance requirements.
- BAFIN regulations: National supervisory authority for financial service providers that places comprehensive demands on IT security, risk management and outsourcing.
Lack of agilitySlow decision-making processes and rigid structures prevent rapid innovation and adaptation to new market requirements.
Slow decision-making processes and rigid structures prevent rapid innovation and adaptation to new market requirements. Without a targeted digital transformation and well-thought-out organizational consulting and development, the time to market for new products remains too long, which results in competitive disadvantages.
Data managementWithout clear strategies and high-quality data, the potential of modern technologies such as AI remains untapped.
Without clear strategies and high-quality data, the potential of modern technologies such as AI remains untapped. The development of data lakes enables the structured and centralized storage of large amounts of data, which allows insurers to gain valuable insights for process optimization and customer interaction.
Skills deficiencyThe demand for digital skills is growing faster than the supply of qualified IT personnel, which makes it more difficult to implement new technologies.
The demand for digital skills is growing faster than the supply of qualified IT personnel, making it more difficult to implement new technologies. Insurers need to establish modern organizational structures and agile ways of working to be perceived as attractive employers. A flexible, collaborative corporate culture not only fosters innovation, but also helps to attract and retain skilled employees over the long term.
To overcome these challenges, insurers need an experienced partner. This is precisely where we at Accso come in. With our expertise in digital transformation, we can help you modernize your processes, optimize your customer experience and future-proof your business.
Our solution: Digital transformation of insurance made easy
With years of experience from a large number of successful customer projects, we understand the problems of the insurance industry and offer customized solutions for your digital transformation. Our goal: to make your processes more efficient, increase customer satisfaction and make your company future-proof.
Our services for insurers
Technological modernizationModernize your IT step by step – from migrating old systems to cloud-native architectures.
Bring your IT systems up to date and lay the foundation for efficient processes, including the migration of host/mainframe-based inventory systems to modern platforms. In addition to functional migration, legacy modernization also includes technical renewal, e.g. replacing Cobol with Java/.NET or monolithic architectures with microservices.
- Step-by-step modernization: A step-by-step approach is often chosen (keyword: two-speed IT). New digital frontends and services are already being built in cloud-native environments, while the legacy core systems are being replaced step by step.
- Automation of time-consuming processes with RPA and AI agents to optimize processing times and efficiently manage the capacities of employees in processing.
- Use of e.g. Camunda (BPM) for orchestrating and automating complex business processes.
- Use of AI-supported decision models to control business processes more intelligently.
Digital customer interfacesIntuitive portals, optimized business models and scalable IT solutions for the digitalization of insurance companies.
Develop intuitive portals and applications that inspire your customers. We combine strategy and technical consulting with modern IT implementation to provide optimal support for insurance companies in their digitalization efforts.
- Strategy & business consulting: Development of digitization strategies, optimization of business models and identification of efficiency potentials. Support for innovation projects – from new insurance products to the redesign of the value chain.
- Concept & UX design: Development of user-friendly self-service portals (customer portals) with an optimal user experience for all distribution channels.
- Technical implementation: Architecture consulting and integration of frontend and backend systems for scalable solutions.
- IT consulting & project implementation: Vendor-neutral technology consulting, integration of third-party software and implementation with agile methods, DevOps and change management. Our interdisciplinary teams ensure seamless implementation – from business analysis to development and rollout.
- Concept & UX design: Development of user-friendly self-service portals (customer portal) with optimal user experience. Optimal UX for all distribution channels to reach the respective customers and target groups.
- Technical implementation: Architecture consulting and integration of frontend and backend systems for scalable solutions.
Customer focus & omni-channel offeringsDigital interfaces optimize sales, service and interaction with omni-channel systems, self-service portals and mobile apps.
The digitalization of the customer interface is a focus for many insurers, particularly in sales, service and cross-channel interaction.
- Omni-channel sales systems: Modern proposal and application systems enable consistent sales across various channels such as field sales, broker portals, online platforms and mobile apps. Centralized solutions for proposal and application management facilitate a unified customer approach and optimize the sales process. In addition, comparison calculators, web portals and broker systems enable seamless integration into existing core systems. Centralized product and sales management reduces the time to market for new offers.
- Customer and agent portals: Self-service portals for end customers and platforms for agents and partners improve digital interaction. Policyholders can view contracts, report claims or exchange documents online. This increases customer satisfaction while reducing process costs. Individually developed portal solutions rely on proven web technologies and standard frameworks to enable an optimized customer journey.
- Mobile apps and UX design: In addition to backend processes, the design of user-friendly frontends is becoming increasingly important. This includes digital closing processes, personalized dashboards and the integration of modern technologies such as electronic signatures or video ID.
- Customer-centric services: Insurers are increasingly adopting an end-customer-oriented approach. Central building blocks include CRM integration, a 360° customer view and proactive communication, such as automated notifications in the event of a claim. Customer experience and omni-channel capabilities are now an integral part of digital solutions, as rising customer expectations are a key driver of IT projects.
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