PwC have issued this year's annual report on the top issues facing the insurance industry. They give airtime to the need to coordinate activities across multiple channels, remove functional silos and integrate new sources of data into analytics. Making better use of customer relationship information is key, though the report also mentions insurers' moves into smartphone apps and telematics. The unspoken glue in all this – the ingredient that you need to have a hope of success in any of these areas – is business data standards. Basing developments on industry standards will enable carriers to make genuine progress without reinventing the wheel.
PwC 2011 Top Insurance Industry Issues
Comments