Finance transformation projects in insurance

whitePaper | August 24, 2022

Commercial insurance has traditionally protected businesses from a wide range of unexpected circumstances. These circumstances underwent significant change during the pandemic, with the move to remote work and plans for business continuity. But these are not the only coverages affected by the pandemic. Cyber security threats have also spiralled.

whitePaper | March 9, 2020

Only about one in 10 connected Americans say they have insurance to help them recover from a cyberattack. And close to half do not know whether they have this protection, according to the Insurance Information Institute and J.D. Power 2020 Consumer Cyber Insurance and Security Spotlight Survey℠. Because of consumer confusion about their current cyber coverage, and the persistent idea that consumers are unwilling to pay more, insurers are faced with a challenge. They need to find a way to educate and inform consumers about the benefits of personal cyber insurance, and its value for helping them recover from thousands of dollars in personal losses after an attack.

whitePaper | April 21, 2022

Progress in the areas of robotics, Artificial Intelligence (AI) and Machine Learning (ML) continues to define a new era of automation in finance. In the last decade, one such focus area for many financial organisations has been automating and modernising key back-office processes like reconciliations. Yet the insurance industry has lagged behind in this regard, relying on outdated reconciliation procedures far longer than any other financial sector. The result is that many firms today struggle with critical issues like differing data formats, manual processes and IT dependencies.

whitePaper | December 13, 2019

This paper contains the views and thoughts from the Sovos global practice and contributors include our indirect tax, e-invoicing and other subject matter experts from across the organisation. Our aim is to provide you with a high-level insight into the challenges that not only insurers but also governments are facing and how insurers need to adapt to survive and prosper in today’s digital age.

whitePaper | September 22, 2022

How can insurance technology leaders respond rapidly to changes in business strategy and the need for portfolio remediation? This guide focuses on how insurers can deliver products at scale, across all lines of business by establishing a new cloud-based operating model.

whitePaper | December 5, 2022

As we head into 2023, P&C insurers will prioritise digital transformation initiatives to navigate geopolitical risks, supply chain disruptions, sluggish growth and rising inflation. Key actions will include focusing on customer centricity, prioritising agile product innovation, embedding sustainability into corporate strategy, and building advanced digital capabilities to build a resilient, future-ready enterprise.