Aufrufe
vor 3 Jahren

EN | inscom 2014 Report

  • Text
  • Digital
  • Innovation
  • Processes
  • Transformation
  • Insurers
  • Reinsurance
  • Solutions
  • Innovative
  • Global
  • Digitization
Digital Innovation in the Insurance Industry

Panel Discussion:

Panel Discussion: “Digital Innovation – More Pain than Pleasure?” Be a Speedboat, Not a Tanker “Digital Innovation – Pain or Pleasure?” That was the topic of a panel discussion studded with high-caliber experts. Once again, it represented one of the high points of inscom. How much pressure to change do insurance providers feel as a consequence of digitization? What sets innovative companies apart? What spurs innovation? What hinders it? And how is the role of the CIO changing? These topics provided plenty of fuel for a lively exchange of views. “If you don’t react to the changes that are brought about by the increasing digitization of our society, then you will face problems in the future,” said Dr. Jörg Dahmen of Generali Deutschland, putting the situation in a nutshell. All panel discussion participants agreed on one thing: Insurance companies need to get moving now and start taking the issue of “Digital Innovation” seriously. In his opinion, one problem plaguing German insurers is their distinct insider‘s view. Instead of thinking about what other rates they could introduce, they should be asking themselves what the customer really needs. What sets innovative companies apart is the ability to observe the market and the usage patterns of con sumers and to develop new solutions for them. While Generali has already scored with innovative solutions (see Page 18) and also U.S. insurance providers have long since seen the writing on the wall, many insurers are still lingering behind, like “lumbering tankers who are still relying on oarsmen to speed them up,” stated Professor Johann Füller. Another characteristic is the courage to experiment, to take a fresh look at insurance providers with small, agile “speedboat” teams, and to rethink products. “The U.S. market accepts fresh ideas more easily than the European market,” said Michael D. Barnett, ”for one, because the U.S. market is more open to foreign companies, but also because insurance providers are quicker to seize upon the ideas coming from abroad.” What‘s more, the expert added, entrepreneurial thinking – the third characteristic of an innovative insurance company – is better developed there. “In the U.S., market players are more willing to break the rules in order to concentrate on innovation,” Barnett concluded. 8

“The CIO of the future must plan today what the business will want tomorrow.” Dr. Rainer Janßen, CIO, Munich Re “The CIO will play a more crucial role on the executive board, and in the future will be as important as CFOs are today.” Michael D. Barnett, President and CEO, mL3 global life “To only regard digitization from the viewpoint of process optimization and automation is not enough: We have to focus on all aspects of the added value chain, from product design through to claims.” Dr. Jörg Dahmen, Head of Process Optimization Division, Generali Deutschland “Insurance companies are like large tankers, slow and inflexible. Now we‘re seeing small, nimble speedboats that don‘t play by the old rules. If companies keep acting like tankers, they will not survive.” Prof. Dr. Johann Füller, Professor of Innovation and Entrepreneurship with the Department for Strategic Management at the University Innsbruck and CEO of HYVE - the innovation company One key innovation driver is big data. Corporations such as Google or Walmart know how to use data effectively and will soon be competing with established insurance providers. However, data protection directives and privacy requirements in a heavily regulated insurance market create significant barriers to innovation. According to Dr. Rainer Janssen, the problem lies with the myriad local and global regulations, which he said often contradict one another. He would like to see the regulations harmonized. Another obstacle is the lack of a skilled workforce. However, this does not necessarily mean hiring new people, said Dr. Rainer Janssen. “Sometimes it is enough just to let in some fresh air. Then you can continue working innovatively with the existing staff.” Roles in IT will change – even that of the CIO: „Chief innovation officers will more often be called upon to slip into the role of the CEO,“ explained Professor Füller, because “in the future, every company will also be something of a software company, too.” 9

msg

01 | 2018 public
02 | 2017 public
01 | 2017 public
02 | 2016 public
01 | 2016 public
02 | 2015 public
01 | 2015 public
01 | 2014 public
01 | 2014 msg systems study
01 | 2015 msg systems Studienband
Future Utility 2030
Lünendonk® Trendstudie
Digitale Transformation | DE
Digital Transformation | EN
DE | inscom 2014 Report
EN | inscom 2014 Report

msgGillardon

02 | 2018 NEWS
03 | 2016 NEWS
02 | 2016 NEWS
01 | 2016 NEWS
03 | 2015 NEWS
02 | 2015 NEWS
01 | 2015 NEWS
02 | 2014 NEWS
01 | 2014 NEWS
02 | 2013 NEWS
01 | 2012 NEWS
02 | 2011 NEWS
01 | 2010 NEWS
MaRisk
01 | 2017 banking insight
01 | 2015 banking insight
01 | 2014 banking insight
01 | 2013 banking insight
01 | 2012 banking insight
02 | 2011 banking insight
01 | 2011 banking insight
01 | 2010 banking insight
2018 | Seminarkatalog | Finanzen

Über msg



msg ist eine unabhängige, international agierende Unternehmensgruppe mit weltweit mehr als 6.000 Mitarbeitern. Sie bietet ein ganzheitliches Leistungsspektrum aus einfallsreicher strategischer Beratung und intelligenten, nachhaltig wertschöpfenden IT-Lösungen für die Branchen Automotive, Banking, Food, Insurance, Life Science & Healthcare, Public Sector, Telecommunications, Travel & Logistics sowie Utilities und hat in über 35 Jahren einen ausgezeichneten Ruf als Branchenspezialist erworben.

Die Bandbreite unterschiedlicher Branchen- und Themenschwerpunkte decken im Unternehmensverbund eigenständige Gesellschaften ab: Dabei bildet die msg systems ag den zentralen Kern der Unternehmensgruppe und arbeitet mit den Gesellschaften fachlich und organisatorisch eng zusammen. So werden die Kompetenzen, Erfahrungen und das Know-how aller Mitglieder zu einem ganzheitlichen Lösungsportfolio mit messbarem Mehrwert für die Kunden gebündelt. msg nimmt im Ranking der IT-Beratungs- und Systemintegrationsunternehmen in Deutschland Platz 7 ein.


© 2018 by msg systems ag - powered by yumpu Datenschutz | Impressum