Which should insurers prioritize first – Digitalization or improving back office processes

Are you mistakenly prioritizing digitalization to the detriment of improving back office processes with potential consequences in terms of regulatory compliance, productivity and customer service?

Insurers are increasingly looking for ways to use digital technology to improve the way they connect with customers. However, less attention is paid to how – and to which – back office legacy systems can hamper progress.

A majority – 72 percent- of respondents to a recent Insurance Post and OnBase study rated replacing these systems as Very Important or Important. With this in mind, the Post teamed up with OnBase to host a roundtable discussion on whether insurers are paying enough attention to their back office processes.

Roundtable participants included:

  • Robin Challand, director of IT & electronic business, Ageas
  • Colin Dean, sales director, OnBase
  • Paul Dineen, head of business management,Towergate Insurance
  • Ronan Hanrahan, director of shared services, QBE
  • Michael Harris, head of IT, Tokio Marine Kiln
  • David Nichols, UKGI chief operating officer, Zurich
  • Warren Pilkington, head of insurer systems, Markerstudy
  • John Rockliffe, insurance account manager, Onbase
  • Rod Willmott, fast track (innovation) director, LV
  • Tim Yorke, chief operating officer, ERS

Tokio Marine Kiln’s head of IT Michael Harris started the debate with the suggestion that customer experience has been neglected: “It has been underestimated, but to be fair, those people at the front end really shouldn’t have to worry about these things.

“The secret is making sure the back office is involved in some of those discussions, more so than trying to help the front end understand exactly how complex the back end is, or what we might need to do.”

Download the entire article, from Insurance Post.