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5 Competitive Strategies to Help Insurers Face the BigTech Threat

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BigTech companies like Amazon and Google have begun to shake-up the insurance industry. The ability to meet customer expectations for on-demand, personalized services has become one of the biggest threats to traditional insurance companies.

Guest speaker Rickey Burks, former SVP Chief Technology & Innovation Officer at USAA, discusses how the use of outdated information systems has enabled new technologies to disrupt the market.

Published in: Technology
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5 Competitive Strategies to Help Insurers Face the BigTech Threat

  1. 1. 5Competitive StrategiestoHelp InsurersFacethe BigTechThreat
  2. 2. Frank Rocha, Director of Global Financial Services Strategy and Solutions at Nuxeo, drives the go to market strategy and messaging for financial services and works with Nuxeo technologists and partners to develop solutions that help shape the future of digital financial services. Prior to joining Nuxeo, Frank spent more than 25 years in various technology roles at USAA where he pioneered many of the information management technology concepts in place today. He also worked as the North American ECM Lead for Capgemini advising Fortune 500 companies on process and content strategies and as the Director of Global Insurance Strategy & Solutions for EMC/Documentum. Today’s Speakers Rickey Burks has over 35 years of experience in the Financial Services industry providing technology and business innovation leadership. He held the position of Senior Vice President, Chief Technology Officer, and Chief Innovation Officer, responsible for all aspects of USAA’s information technology architecture, business and technology innovation. In his role, Burks directed the activities of USAA’s Architecture, Applied Research, Innovation and Technical Fellow community. Burks has also received several industry recognitions including being one of the 2014 Computerworld Premier 100 recipients. He is a thought leader and sought-after speaker and consultant whose expertise is valued by organizations such as the MIT Sloan Institute, CIO council, Forbes, and InnoTech.
  3. 3. TheCustomerExperienceChallengeHowBigTechisDisruptingtheInsuranceIndustry • BigTechhasraised thebaroncustomerexperienceacrossallindustries • BigTechHas: • Brand Recognition • SuperiorCustomerExperience • Speed of Deployment • CustomerInsight • What are5strategiesinsurerscanuseto compete?
  4. 4. #1 Minimizethe BurdenofLegacy Systems
  5. 5. #2 GetFullInsight Across InformationSilos
  6. 6. #3 ThinkSmall: Micro-Services API Based Architectures
  7. 7. #4 TameInformation Chaos& Extract DeepInsight
  8. 8. #5 Prioritize Scalabilityfor FutureGrowth
  9. 9. TheCustomerExperienceChallengeRecap-InOrderToCompete,InsurersMust: • Modernizetheirinformationsystems • Connect tothewealthof informationacrosstheorganization • Need to deliverindaysorweeksnot monthsoryears • Need to beableto extract moreactionableinformationfromdata • Most performand scalequickly to meet theneedsof today digital enterprise
  10. 10. Thank you! FrankRocha frocha@nuxeo.com

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