Accountagility has revealed its IT predictions for the insurance market for 2015, based on detailed feedback from its customers, as well as its specialist expertise in the technologies that are most likely to gather momentum over the next 12 months.
Robert Gothan, CEO and founder of Accountagility, reflects on the last 12 months in the insurance industry and provides his predictions for the year ahead:
1. Solution flexibility
“We expect to see a much greater demand for solution flexibility next year, as insurers are becoming more exacting in their requirements. Firms should also think about replacing the need for ongoing solution development with more user-friendly configuration capabilities.”
2. Self-service will be key
“2015 will see a much bigger emphasis on self-sufficiency and automation as firms looks for new ways to reduce the drain of business-as-usual maintenance on their busy IT functions.”
3. System consolidation
“Insurers will increasingly begin to consolidate the tools and systems that they use the most, preferring global deployment and standardisation across fewer, more powerful systems.”
Gothan concludes:
“Insurers will continue to focus on getting more value from their IT spend in 2015, both internally and with external vendors. This is likely to challenge some existing vendor relationships and focus discussions around value, rather than technology. However, insurance companies are also beginning to take user opinions much more seriously and are already engaging more positively with them. As a result, we expect to see firms embracing the flexibility and scalability of cloud-based solutions, but without sacrificing the need for ever-tighter security.”
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