How Financial Automation Tempers the Challenges of the Insurance Industry
The insurance industry is changing globally. Competition is intensifying, and to simply reduce costs by outsourcing is no longer the answer.
The industry faces digitization as both a threat and an opportunity, and the predicted result is a significant culture change.
According to an analysis by Ernst & Young: “Key challenges include rising competition, generally soft pricing conditions and tight profit margins. To effectively surmount these problems, many insurers are investing in technological solutions that improve front-end sales, distribution and customer service, and enhance back-end operational efficiency and expense management.”
This white paper addresses changes that must occur throughout the office of finance in order to handle these evolving challenges.