Atos opinion paper outlines the digital trends powering smarter, greener and safer insurance
London – 29 June 2022
Atos today publishes its latest opinion paper, Digital Vision: Digital Insurance, in which it examines the most pressing issues facing insurers globally today and the key trends transforming the digital future of insurance, from emerging security threats and regulatory changes, to increasing consumer expectations and demands to respond to the decarbonization agenda.
Bringing together expert views from Atos and organizations such as RSA Insurance and Keoghs, the paper outlines the pragmatic business strategies and digital technologies insurers must embrace to keep up with the rapid pace of change in the sector and make insurance smarter, greener and safer.
Articles will present practical ideas, knowledge and guidance on how insurers can modernize legacy operations, meet changing consumer expectations and respond to new environmental risks through adopting technologies including the cloud, data analytics, AI and supercomputing – all of which can be directly applied within individual insurance businesses.
It will also look at external drivers like the industry’s move towards Open Insurance and digital ecosystems that are focused less on the insurer and much more on the customer, as well as how insurers can limit their exposure to carbon-intensive sectors and use data to inform future investments that prioritise sustainability.
Carol Houle, SVP, Global Head of Financial Services and Insurance at Atos, said: “Disruption is not new to the insurance sector, but what is new is that for the first time a series of significant disruptions have occurred almost simultaneously while the world has experienced a hugely accelerated shift to digital as a result of Covid-19.
“This is a truly pivotal moment for insurers, and the sector’s ability to adapt and innovate will ultimately help to power progress for society over the next decade. Our Digital Vision: Digital Insurance paper will offer practical approaches to help insurers define and adapt their business strategies to thrive in this fast-paced digital world and make insurance smarter, greener and safer.”
Ahmed Sheikh, Director of Digital at RSA Insurance Group and contributor to the paper, said: “All too often, large insurance firms are seen as unable, or perhaps unwilling, to adapt and deliver digital innovation. Yet were they to do so, the effect on millions of customers would be on a scale that surpasses that of multiple InsurTechs combined.
“In Digital Vision: Digital Insurance, I explain that all it takes is for some of the major players to change the way they think about disruption. Rather than look outward at all the new products launched by InsurTechs, there is an argument that looking inward at existing customer journeys could yield significant value – both in terms of customer retention and brand reputation. A shift in mindset towards customer journeys could deliver the impact that the term ‘digital innovation’ actually implies.”
The Digital Vision: Digital Insurance paper builds on the experience of Atos as a leading digital partner to many of the world’s banking, capital markets and insurance companies, providing integrated technology solutions that help financial services providers prosper in a rapidly evolving digital world.
Over the past year alone, Atos has secured a broad range of banking, insurance, pensions, and capital markets contracts across multiple continents. Examples include the selection of Atos by mutual insurance company MC Mutual for the maintenance and renewal of its application infrastructure, and an extended agreement to accelerate transformation with Dutch insurer VGZ.