{"id":1161,"date":"2016-04-29T03:55:50","date_gmt":"2016-04-29T09:55:50","guid":{"rendered":"https:\/\/cigniti.com\/blog\/?p=1161"},"modified":"2020-04-30T20:51:35","modified_gmt":"2020-04-30T15:21:35","slug":"top-5-technology-trends-insurance-industry","status":"publish","type":"post","link":"https:\/\/www.cigniti.com\/blog\/top-5-technology-trends-insurance-industry\/","title":{"rendered":"Top 5 Technology Trends in the Insurance Industry"},"content":{"rendered":"
Technology is evolving fast and many insurance organizations are challenged to keep up the pace. These technological advancements are driving the demand for software developers to acquire new skills and capabilities in the insurance domain. The global insurance industry is facing increasing demand from the established markets and severe demand from the emerging markets. To tap the demand, insurance companies across the globe are embracing newer technologies and digital transformation while adopting mobile and cloud-based technologies.\u00a0 Global insurance players are focusing on refining the business processes and modernization of legacy applications to improve customer satisfaction through various distribution channels.<\/p>\n
According to the 2015 Global Insurance Outlook by Ernst & Young, \u201cMany insurers are investing in digital platforms that strengthen their relationships with customers across all product classifications and geographies. Their goal is to empower both businesses and consumers to better shop for insurance, making products more transparent, easier-to-understand and compare.\u201d<\/p>\n
So, what are the top 5 technology trends<\/strong> insurers are embracing?<\/p>\n \u00a0<\/strong>[Tweet “\u201cA 1% improvement in the loss ratio for a $1 billion insurer is worth more than $7 million on the bottom line.\u201d \u2013 SAS”] <\/span><\/p>\n To well implement these technology initiatives in the current fast-changing technology environment, software testing is essential.\u00a0 To be able to manage the increasing complexity of systems and applications that support their business, insurance companies require a reliable testing partner. Testing of insurance applications effectively calls for certified test professionals and business analysts with deep insurance industry expertise.<\/p>\n We at Cigniti have a dedicated team of professionals who are experts in end-to-end policy life cycle management. We have built proprietary IPs and tools, test repositories and test automation frameworks that helped insurance companies across the globe.\u00a0 Contact us<\/a> to know more about our testing services<\/a> for the insurance domain.<\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" [Tweet “\u201cNew Technologies and Business Models Will Drive Digital Disruption in Insurance\u201d – Gartner\u2019s predictions for 2016”] Technology is evolving fast and many insurance organizations are challenged to keep up the pace. These technological advancements are driving the demand for software developers to acquire new skills and capabilities in the insurance domain. The global insurance […]<\/p>\n","protected":false},"author":2,"featured_media":1168,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[3069,38,5],"tags":[18,365,368,80,218,370,41,371],"ppma_author":[3736],"yoast_head":"\n\n
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