Gartner Research

Three Key Trends Driving the Transformation of New Business Processing in North American Life Insurance

Published: 16 February 2017

ID: G00303261

Analyst(s): Richard Natale

Summary

Rapidly shifting consumer expectations, increasing numbers/types of sales portals, and urgently needed cost-efficiency and revenue growth are key trends North American life insurance CIOs face. To remain competitive, they need to modernize their new business processes to address these trends.

Table Of Contents
  • Impacts

Analysis

Impacts and Recommendations

  • The urgent need for cost savings and increased revenue is driving North American life insurance CIOs to implement technologies to streamline new business processes
    • Recommendations
  • The growth in enrollment software, insurance exchanges and direct-to-consumer sales websites requires North American life insurance CIOs to adopt adaptive technologies such as data exchange gateways to facilitate improved integration
    • Recommendations
  • Changing consumer expectations of speed and seamlessness in business interactions will require North American life insurance CIOs to transform the user experience using new technologies
    • Recommendations

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