Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Eitc team 2 tech talk-final


Published on

Syracuse University Enterprise IT Consultation

Published in: Technology
  • Be the first to comment

  • Be the first to like this

Eitc team 2 tech talk-final

  1. 1. Tech Trends 2016 Property and Casualty Insurance
  2. 2. The Team Team Advisor Team Leader Don Massenzio Michelle Kaarst-Brown Consultants • Kathleen Seibert • Sargam Gupta • Yang Fu • Jash Mehta • Anvitaa Shetty
  3. 3. • Overview of Property & Casualty Insurance in 2016 • Key Tech Trends • Closing Thoughts Agenda
  4. 4. Property & Casualty Insurance Industry Priorities for 2016 • Digital Leadership to take over transformation effort • Increase transactions in Mergers & Acquisitions • Cultivate a Culture of Continuous Innovation • Focus on the Distribution Platform • Differentiate the Product with Analytics On the Road to Disruption
  5. 5. • Modernization to reinvent existing business processes • Core-related IT expenditures as a smart investment • Improved efficiency, efficacy and results to match the higher-order initiatives • Redefine business core performance to meet industry standard • Customer-focused, outcome-driven core to achieve business goals • Functionality, reliability and scalability to help develop a fitting design for new infrastructure • Automation of legacy systems to drive innovation and growth Note: IT budget visuals have been derived from technology benchmark studies performed by Novarica in 2016 Trend 1 : Reimagining Core Systems
  6. 6. • Autonomic Platforms uses virtualization and DevOps to provide agility and flexibility • Biggest challenge: Engaging customer wherever they are are and whenever they choose • Software Defined Everything - Virtualizing the computer infrastructure • Time to change cumbersome SDLC methodologies to DevOps Trend 2 : Autonomic Platforms
  7. 7. • Operational byproduct to strategic boardroom concern “What should I do?” → “What is going to happen?” • The new role of Analytics oUnderwriting results oNew products & Refine Pricing strategies oMarket Differentiator • Apply proven analytics to the homeowners market • Use analytics to manage commercial market risks • Online Presence & Internet Sales - Customers’ demand! • Pricing Life Cycle - Soft (2004-2011) -> Hard (2011-Present) Trend 3 : Industrialized Analytics
  8. 8. Influence of Tech Trends in 2016 • Businesses with benefit with effort directed towards “Reimagining the Core”. • This will give companies the hardware advancement in addition to the benefits of agile methods and new opportunities • Automate platforms will help the business by running it faster and more reliable • Industrialized data analytics will essentially describe information with predictive capabilities in the the future
  9. 9. Thank you