- arvato Systems demonstrates the necessity of implementing customer-orientated business models and highlights new opportunities in this area
- Changes in customer behavior force the insurance industry to respond to new challenges
Over the past two decades, digitalization has already had a lasting effect on numerous business models in different industries, and because insurance products are easily ‘digitalized,’ the pressure on business models in this sector has increased dramatically. Experience has shown that today’s digital society runs on an entirely different set of rules, and therefore calls for fundamentally new processes and technologies.
The critical task of establishing seamless connections with customers – be it via telephone or a company website, through employees on-site or via mobile and social media channels – is just one of the many challenges facing the entire insurance sector. Changes in customer behavior and increased expectations on the part of the consumer in this digital day and age affect the whole company, requiring a comprehensive new business strategy in which the company’s business activities revolve around the customer.
In order to successfully implement its new business strategy as part of this ‘digital transformation,’ a company must, among other things, continually work to develop its IT capabilities, with the aim of increasing the use of service-orientated application architectures, as well as scalable standard software.
In this option paper, arvato Systems, with its many years of experience in helping to shape the digital transformation of business models, will provide answers to the question of how to successfully exploit technological developments and changing customer behavior.
For more information on the subject and for a free download of the opinion paper, please visit: www.arvato-systems.de/de/is/ (German only)