Download - Technologies Driving Change in the Insurance Landscapeassets1.csc.com/aspire_2014/downloads/Technologies_Driving_Chang… · Evolution Required for the Successful Insurance Company

© 2014 Computer Sciences Corporation

TECHNOLOGIES DRIVING CHANGE IN THE INSURANCE LANDSCAPE Michael W. Risley Insurance Industry General Manager

http://www.foresters.biz/

http://www.symetra.com/symetra/

3 October 28, 2014 © 2014 Computer Sciences Corporation

Innovation

Legacy

© 2014 Computer Sciences Corporation


Profound Market Changes

Consumerization

Regulation & Business Disruption

Exposure to catastrophes

Globalization

Rising middle class

Aging population

Digital natives

Changing Demographics

Cloud

Analytics

Social Mobile

Cyber

Apps

New Digital World


Market Forces Shaping Insurance

Established Markets Growth Markets

Lif

e &

An

nu

itie

s

Pro

pe

rty &

Ca

su

alt

y

Globalizing Operations

Investment Returns

Impact of Catastrophes

Regulation Growing Middle Class

Increasing Longevity

Legacy Technology

Digital, data, mobile …

Transforming Claims

Dig

ita

l

Lower Tech Influence

Higher Tech Influence


New Digital World Will Change the Focus of the Entire Business

Infrastructure

Products & Markets

Operations

Distribution

Applications

7 October 28, 2014 © 2014 Computer Sciences Corporation 7 October 28, 2014 © 2014 Computer Sciences Corporation

What Will the Insurer of the Future Look Like?

Outside-In

“As a Service”

Digital Insurance @


Market Technology Customer

Consumerization • Feature / Service • New Channels /

Competitors • Diverse Value Chains

Behavior Driven • Usage Based • Micro vs Macro • Event vs Term /

Annuity

Ecosystems • Partners • Providers • Channels

Omni-Channel • Buying Journey • Digitally Enabled • Real Time

Insight Enabled • Segmentation • Underwriting /

Pricing • Product Innovation

Experience • Ease / Speed /

Convenience • Prevention / Advice • Continual Value

As a Service • Infrastructure /

Software • API Economy • Cybersecurity

Internet of Things • Connected Car / Home • Quantified Self • Smart Infrastructure /

City

Mobility • Device => Glass • Sensors / Camera • Service

Aggregation

Digital Insurer of the Future

Masters of…


Market Technology Customer

Consumerization • Feature / Service • New Channels /

Competitors • Diverse Value Chains

Behavior Driven • Usage Based • Micro vs Macro • Event vs Term /

Annuity

Ecosystems • Partners • Providers • Channels

Omni-Channel • Buying Journey • Digitally Enabled • Real Time

Insight Enabled • Segmentation • Underwriting /

Pricing • Product Innovation

Experience • Ease / Speed /

Convenience • Prevention / Advice • Continual Value

As a Service • Infrastructure /

Software • API Economy • Cybersecurity

Internet of Things • Connected Car / Home • Quantified Self • Smart Infrastructure /

City

Mobility • Device => Glass • Sensors / Camera • Service

Aggregation

Insurers of the Future Must Become Masters of…

Consumption

Understanding

Engagement

Masters of…


Evolution Required for the Successful Insurance Company of the Future

Masters of Understanding

Transaction Relationship

Proxies Behavior

Assumptions Insights

Static Dynamic

Segment Individual

Periodic Real-time

Internal External

Gigabytes Petabytes

Masters of Experience

Protection/ Indemnification

Prevention/Advice

Risk Transfer Value

Product Experience

Event Continual

Efficiency Excellence

Carrier Ecosystem

Agent Omni-Channel

Business Hours 24/7

Masters of Consumption

Creation Consumption

Development Aggregation/ Integration

Labor Automation/STP

Data Centers Cloud Service

Providers

Licensed/ On-Premises

SaaS

Proprietary Open

Months Minutes

Complexity Simplicity


Our Unique Differentiator is Our Ability to Transform Both National and Multinational Insurers……

Global Administration

Platforms

Global Product

Repositories

Standardized Processes

Global Resources

Standardized Metrics and Reporting


…Coupled with Next-Gen Infrastructure

Life Insurance

Reinsurance Health Insurance

General/ P&C Insurance

Next-Gen Infrastructure

Next-Gen Applications Orchestration

Cloud Enabled

Cyber Protected

Digital Focused

Mobile Ready

Big Data Driven

Digital Insurance Platform

Global Administration

Platforms

Global Product

Repositories

Standardized Processes

Global Resources

Standardized Metrics and Reporting


Our Strategy – “Spine” is our Insurance Software

• Insurance software

• “Backbone” of our ecosystem and differentiator

• Business Process Services

• Enables transformation for many

• Infrastructure

• Rapidly move to as a Service; orchestration is key

• Application services

• Modernization and conversion become more realizable with advances in technology

• Integration of next-generation technologies

• Big Data, Cloud, Cyber, Mobile drive digital insurance

Insurancesoftware & BPS

Infrastructure

Applications

Newtechnologies

14 October 28, 2014 © 2014 Computer Sciences Corporation 14 October 28, 2014 © 2014 Computer Sciences Corporation

What Will the Insurer of the Future Look Like?

Outside-In

“As a Service”

Digital Insurance @


Outside-In View of Insurance

Brian Wallace, Insurance CTO


Value Traditionally Created Inside the Firm

New Value Increasingly Created Outside the Firm

Community Content

Social Media

Mobile/ Location

Big Data

Co-creation

Crowd-sourcing

Collaborative Commerce

Design Production Sales and Marketing Support

Recognize that Innovation is Moving Outside the Firm

Edge Devices

Open Innovation

Cloud Computing

Sensors Peer-to-Peer


Key Technologies Enabling the Outside-In Shift

Source: CSC Leading Edge Forum

Mobility & Machine

Big & Fast Analytics

Cloud Platforms

Cyber- security

Next-Gen Apps

Five Essential Technology Areas

High- Security Systems, Networks,

Apps, and Data

DM

Z

DM

Z

User-Generated Content

Cloud Computing

Business Ecosystems Customer

Experience/ Identity

Devices/ BYOT Predictability/

Understanding

Internet of Things SaaS

Open Communities

Employees, Suppliers, Partners, Contractors

CUSTOMERS

CRM

HR Services

Travel &

Expenses

UX


CSC’s Vision of the Service-Enabled Enterprise

Business

Benefits

Efficient, ubiquitous

cloud architecture

Match cost

to usage

Better visibility on enterprise

technology assets

Faster innovation cycles enabled

through aaS applications

Immediate deployment

options available

DATA MESH

ENTERPRISE APPLICATION INTEGRATION MESH

SECURITY SERVICES

CLOUDIFICATION THROUGH MODERNIZATION

BUSINESS PROCESS MANAGEMENT SYSTEMS

SaaS DEPLOYMENT

Mainframe

Midrange

Existing Applications

CSC SaaS-Based Industry Solutions

Consumer Applications

SaaS-Based Horizontal Applications Traditional

Applications

SaaS-Based Vertical Applications

http://news.cision.com/apptus

http://news.cision.com/apptus


Insurance in an Outside-In World

Sold by Agents

Carrier

Product-Centricity

Paper Based

Data Capture

Indemnification

Transaction

Bought by Customers

Ecosystem

Customer Experience

Digital/Real Time

Data Analytics

Continuous Value

Relationship

Inside-Out

Outside-In


• Customer insight • Rating/underwriting • Cross-sell/up-sell • Producer performance • Regulatory reporting

• Customer self service • Agent enablement • Omni-channel experience • New business, claims • Telematics/M2M • BYOD/VDI

• Hybrid cloud orchestration • Web-scale private cloud • Process automation • Data center consolidation • Desktop

• Modernization/Migration • Component solutions • Real-time/STP • PaaS/SaaS/BPaaS • DevOps/Agile

Mobility & Workplace

Big & Fast Data

Infrastructure Evolution

Cybersecurity

Next-Gen Applications

• Identity & access • Vulnerability testing • Threat detection • Incident response

Becoming an Outside-In Insurance Enterprise


Attractive value propositions:

• Simpler products and services that meet specific client segments’ needs

• Competitive pricing on utility basis

• Differentiation through digital engagement

Frictionless processes:

• Self-service 24x7

• Front-to-back digitalized processes

• Paperless

• Authentic, efficient and friendly omni-channel experience

Strategic Approach

As Part of an Overall Digital Strategy, Integrating Tactical Solutions into a Seamless Digital Experience

Tactical Approach Digital

Insurance Organization

Remote collaboration

and engagement

Distribution transformation

& channel strategy

Customer experience excellence

Product and service

innovation, partner

ecosystem Virtual servicing, automated

provisioning

Advanced risk and decision- making tools

apps

online call

centers

web mobile

sms

api


Enterprise Applications Cloud Broker/

Management Platform Data Center

Infrastructure Operations

IT Transformation — Cost, Quality, Agility

App & service catalogs, policies, orchestrators and monitors = Govern the Clouds

Massively automated, self service workload compliant, SDx = Agile & Efficient IT

Application modernization, transformation and migration

= Target the Cloud

Next-Gen Applications

Infrastructure Evolution

+


IT Led Transformation – Modernization at Scale

Migrate Systems piecemeal • Baseline cost of $1.5x

• Benefit: reduced OPEX of 50% or greater

Migrate Systems in a factory approach • Baseline cost of $1x

• Benefit: reduced OPEX of 50% or greater per system

Migrate Systems within a managed service • Baseline cost of $0.75x

• CAPEX to OPEX

• FTE reduction

Migrate Systems within a managed service to aaS • CAPEX to OPEX

• Costs move with business volumes

• FTE reduction

Improve agility, flexibility, and control

Improve ROI

(CAPEX to OPEX)

Strategic Alternatives

4

3

2

1

• Front/Middle/Back Office

• Region

• Line of Service

• Common Technology or Platform

• Function:

New Business

Policy

Claims

Billing

Portfolio Segmentation


Outcome Driven Transformation – Business and IT Co-Innovation

Customer, Agent, & Broker

Portals; including web and mobile

Admin Portals, Contact Center

Interfaces, Process Engines,

Analytics & Reporting

Core Platforms including

Policy, Product, and

Claims

Finance, HR, and other

Corporate Systems

Lean and Agile: MVP and

Iterate

Transform from the Outside-In


CSC Is Uniquely Positioned to Help

End-to-

End

Life Insurance

Reinsurance Health Insurance

General/ P&C Insurance

Deep Expertise

Next-Gen Infrastructure • Data center transformation

• Cloud services

• Workplace of the future

• Cybersecurity

Next-Gen Applications • Modernized and cloud enabled

• Enterprise and LOB applications

• Mobile and social platforms

Cloud Enabled

Cyber Protected

Digital Focused

Orchestration

Mobile Ready

Big Data Driven

Digital Insurance Platform


Let’s Hear From You

27 October 28, 2014 © 2014 Computer Sciences Corporation © 2014 Computer Sciences Corporation

Sharon Luty Senior Information Officer

Taryn Risucci VP of Supplemental Operations

Scott Terrell VP of IT

Michael Sibley Vice President

Jim Berry Vice President


Outside forces are reshaping the enterprise

Technologies are enablers to increased agility

Profound changes are needed for survival

CSC is in the best position to guide you in this market shift

Key Takeways


Thank you

Download - Technologies Driving Change in the Insurance Landscapeassets1.csc.com/aspire_2014/downloads/Technologies_Driving_Chang… · Evolution Required for the Successful Insurance Company

Top Related