Technology for the Insurance Industry
For some within the insurance industry, technology is outdated with legacy systems making it difficult to integrate with modern technologies. There is also a lack of standardization across different insurance platforms creating significant risk for insurance firms. The United States is the largest insurance market in the world. Therefore the need for IT infrastructure will continue to increase. Consumers continue to request and use more online automated services creating additional demand on IT infrastructure.
Improving Insurance Technology
Insurance providers are no strangers to analytics. In fact, many data-driven analytical techniques were born in the backrooms of insurance companies. This industry is rapidly adopting technology to improve customer experiences and reduce risks. It also enhances efficiency. Here are some examples of how technology is transforming the insurance industry:
– AI for Risk Assessments & Underwriting
– Big Data & Predictive Analytics
– Fraud Prevention & Smart Contracts
– IoT & Telematics
– Cloud Computing
– SaaS Solutions
– Cybersecurity
– Robotic Process Automation
– Digital Transformation
– Customer Experience & Digital Engagement
Success within this industry comes with a solid foundation of technology that includes adequate computing resources, storage that is capable of maintaining Big Data stores, analytical software that leverages AI and a robust network capable of tying these components together effectively and efficiently.
Areas JEM Can Help
JEM has nearly 50 years’ experience working with the insurance industry and can help with your technology product and service needs in data centers, edge computing and network closets within your headquarters, branch offices, and security offices.
