Written by Ruth Fisk, Global Insurance Director at DataBank IMX
Insurers everywhere are feeling the pressure as new technologies and expectations arise for how the industry should function and where they should meet the consumer. This has quickly become known as the Insurtech Revolution.
While there will definitely be challenges, this disruption brings with it so many exciting innovations. That’s why we’ve decided to join the revolution and build our own insurance vertical.
Joining the Insurance Revolution
Insurance is an industry with a significant need for solutions that can provide improved information access, increased speed to market and better customer experiences. Taking a vertical approach to this industry will enable us to bring new innovative ideas and solutions to better serve the market.
By moving to a vertical perspective we’ll really be able to bring insurance specific domain expertise that can accelerate the process from start to finish. Focusing on specific applications, technologies, and services enables us to help organizations compete more effectively and contribute to their profitability and growth strategies.
Verticalization also provides customers the ability to build stronger communities with their peers and to learn from those before them. Networking and applying best practices is a proven tactic to better managing IT projects and business outcomes.
Developing Technologies and Improving Processes
After working in the insurance industry myself, I decided to do some self-reflection to determine what new challenges I could take on to leverage my own expertise and experience. I quickly realized my passion fell in developing technologies and processes that helped this industry I was so passionate about, truly excel.
I am so excited to be a part of the team…really a part of a family…and am thrilled to contribute to this amazing impact on the insurance industry. I’m ready to continue providing new solutions and services that drive global benchmarks and provide long term residual value to the industry that is so important to me and to the world.