11 Emerging Technology Trends for 2013

Asked what technology insurers will be talking about by the end of next year, analysts and consultants responded with an array of technology solutions—from customer experience management and analytics process maturity, to security and digital mailbox services—that are currently flying under the radar.

Mark Hill, senior management, Deloitte Consulting LLP

The momentum of technology advancements in insurance should continue to be strong. Prospects of the next game-changing technology schemes will challenge carriers to figure out how to harvest the growing amount of real-time structured and unstructured data to the long-term benefit of their businesses.

In short, in 2013, it will be less about a “new” technology and more likely about new combinations of newer capabilities.

Mobile technologies have become more sophisticated and available. Cloud computing offers breakout opportunities to migrate off legacy core systems, improve operational efficiency, and challenge existing business norms. Predictive modeling and advanced analytics can also be instrumental in a carrier’s quest to differentiate themselves through more efficient underwriting, enhanced customer experience and fraud control.

The coordinated use of technological capabilities like these to create competitive advantages will likely prompt more insurers to consider disruptive technology combinations as one way to gain an edge.



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