To build a sustainable competitive advantage, insurers must provide the customer with a completely satisfying experience, so much so that policyholders are forced to recommend the company to others.

Applications for the insurance companies should pay for themselves, allowing the institution to better manage risk, reduce operational costs, adapt quickly to change and improve services through the channels. The maintenance of existing infrastructure and application portfolio of an insurance company represents approximately 70% of the total budget of IT investments. IBM Services Application Management Services can help companies to redirect its focus towards higher value activities for business, consumers and respond to the market and only pay for what they really need.

While insurers are faced with the complexity and to the increasing demands they bring with mergers and acquisitions industry consumers continue to demand a personalized, innovative options and access to interactive channels. In the best scenario, the information technology (IT) becomes a magical solution - helping insurance companies to resolve these problems, streamline processes, improve productivity, increase service levels, and prepare for sustained profitability.

IBM has the expertise and tools to help the insurance industry to build a platform for growth and success, overcoming the growing challenges of the industry.

Benefits of IBM for the Insurance Industry:

With IBM solutions

• Improve the responsiveness and productivity through effective linkages with suppliers and partners in real time.
• Integrate the enterprise by connecting applications and operating platforms across networks.
• Achieve be differentiated by developing custom applications for various markets, to lower cost and quicker time to market.
• Retain customers and increase the satisfaction of those using the database of customers, to align expectations with the products and services better understand customer value and automate services.
• Reduce costs by outsourcing processes that are not critical for the company and involve intensive work, find a reliable supplier with global reach. Reinvest the savings in new initiatives.