DIGITAL TRANSFORMATION
PA
. Bringing Ingenuity to Life
“ THE LAST 12 MONTHS HAVE SEEN A NUMBER OF ECONOMIC PRESSURES , SOME OF WHICH , SUCH AS SOARING INFLATION AND RISING INTEREST RATES , THE INDUSTRY HAS NOT HAD TO DEAL WITH FOR A VERY LONG TIME ”
JASON WHYTE INSURANCE EXPERT , PA CONSULTING digital transformation . It also requires more specialised technology talent , which insurers have historically struggled to attract and retain .
“ Technologies like fintech enablement platforms will play a big role in the next couple of years , enabling insurers to accelerate the pace of digital transformation . By helping insurers reduce the complexities of implementing a modern technology platform and empowering a wider range of roles to contribute to digital product innovation , these platforms will help insurers realise the value of the technology investments they ’ ve made in the past years .” Manoj Pant , Senior Director and EMEA Insurance Industry Principal at Pegasystems , agrees : “ The insurance industry is currently behind some other industries , for example , banking or telecoms , in terms of digital adoption , but it has come a long way . Insurers are now able to see the huge benefits of leveraging digital technologies
50 March 2023