Beyond the Build — The Best Insurance Technology is Already Waiting

Investing in technology is a reactive process for most insurers. The business identifies pain points or efficiency opportunities and brainstorms technology enhancements which results in a never ending cycle. Each update is approached as an individual project that insurers plan, build, implement, and then move on from.

This dynamic is turned upside down by modern SaaS claims management platforms. Rather than brainstorming a new enhancement, the platform updates twice a month with pre-built configurations, enhancements and automation ready for activation. This fundamentally shifts how insurers strategize and deploy technology to a proactive product driven mindset from a reactive project drive approach. Imagine shifting from building custom solutions to sequencing which capabilities to deploy and when. 

The Modern Claims Management Platform Drives IT Roadmap

In the past, claims leaders had to map IT projects, justify the business case, endure lengthy legal and procurement processes, and wait for resources and development cycles. Improvements often took years to implement, leaving insurers with outdated technology and gaps in service delivery. The process by nature creates friction between the business area and IT and across other departments as they compete for resources to improve functionality. 

The modern claims platform has changed this traditional dynamic to one where the business already has ready-to-deploy functionality within its platform. Instead of waiting for the next release cycle or budgeting updates throughout the year, insurers can activate embedded capabilities with minimal risk and disruption to the business. With hundreds of automations, digital processes, AI-driven workflows, modern technology enables insurers to deploy new functionality when they would like, rather than being constrained by IT resources. 

A Future-Proof Approach to Modern Insurance Technology 

The shift requires a shift to a product driven approach to technology oversight that is proactive, shifting from the old mindset of questioning what they can build to a proactive approach wondering what capabilities can be activated. This reframing of innovation requires insurers to think differently about IT and implementation, considering that: 

• IT is not the costly and lengthy process it used to be — now, it is an enabler of innovation that supports business goals.
• Claim leaders can make technology decisions based on their impact, not cost or feasibility as the capabilities already exist embedded within the platform. 
• Continuous improvement is now expected as insurers can easily test, refine, and reiterate processes to optimize their technology and achieve the best outcomes. 

Insurers who embrace platform-driven innovation can regain control of their technology roadmaps, accelerating their digital transformations and leveraging IT capabilities to better meet changing customer demands. The future of modern insurance is not based on IT-led development cycles and deployment sprints — it’s about leveraging the power of the modern claims platform to drive better claims outcomes by activating embedded functions, one feature at a time. 

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