MA-EARNIX
17.11.2022 15:17:36 CET | Business Wire | Press release
Insurers have prioritized modernization but are struggling to do it according to Modernizing Insurance Operations, a study published today by Earnix, a global provider of mission-critical composable and cloud-based intelligent solutions across pricing and product personalization for insurers and banks. The survey of nearly 300 executives from insurance carriers focused on perceptions, priorities, and plans related to new technology adoption.
Operations modernization was listed as one of the top five organizational priorities for 87 percent of surveyed insurance companies, with four out of five companies planning to modernize their infrastructure in the next two years. In contrast, nearly 90 percent of respondents said they have not fully developed and executed their operations modernization strategy. Additionally, none of the respondents have fully executed it.
Even with their struggles to modernize, carriers recognize it’s critical to their businesses. The need for insurance operations modernization is high and will continue to increase. On a 10-point scale, the current need was ranked at 7.6 and is expected to grow to 8.0 in the next 12 months. While all insurance processes have important automation and efficiency needs, the greatest needs identified were dynamic pricing, fraud analytics, and personalized add-on offerings. According to the report, investment will increase most in product personalization and telematics-based products.
Insurers realize many internal processes could benefit from modernization, but rating as well as pricing and product personalization were ranked at the top. Advanced simulation, real time monitoring, AI with machine learning at the point of interaction, and automation are all key for carriers to provide the personalized offers that their customers crave.
“Carriers have realized that they must prioritize insurance operations modernization,” said Dror Pockard, Chief Strategy Officer, Earnix. “Technology partners with interoperable, connected, and easy to deploy solutions that offer fast return on investment can leverage carriers’ existing investment. Adopting new technology is critical to help insurers to improve customer experience. The time for modernization is now; any delay will harm carriers’ ability to achieve their business goals.”
About the Report
The survey, conducted by Earnix and Market Strategy Group, LLC in May and June 2022 included 298 insurance executives in North America (~50%), Europe, and Australia. The respondents spanned c-level (9%), IT (20%), analytics (17%), product (18%), underwriting (19%), and actuarial (17%) roles. Detailed interviews were also conducted with dozens of insurance executives.
To download a full copy of the report, visit https://earnix.com/insights-center/brochures/2022-industry-trends-report-modernizing-insurance-operations/.
About Earnix
Earnix is the premier provider of mission-critical composable and cloud-based intelligent solutions across pricing, rating, underwriting, product personalization and telematics. These fully integrated solutions provide ultra-fast ROI and are designed to transform how global insurers and banks are run by unlocking value across all facets of the business. It has been innovating for Insurers and Banks since 2001 with customers in over 35 countries across six continents and offices in the Americas, Europe, Asia Pacific, and Israel. For more information please visit: earnix.com.
Connect with Earnix via Twitter, LinkedIn and Facebook. Read the Earnix Blog.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20221117005759/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Andersen Consulting styrker sit cybersikkerhedstilbud gennem samarbejde med Trillium Information Security Systems21.3.2026 02:16:00 CET | Pressemeddelelse
Andersen Consulting udbygger sine kompetencer inden for teknologi og risikostyring gennem en samarbejdsaftale med Trillium Information Security Systems (TISS), et cybersikkerhedsfirma. Med en tilstedeværelse i Canada og Pakistan leverer TISS omfattende cybersikkerhedsløsninger til organisationer inden for finans, telekommunikation og den offentlige sektor. Virksomhedens team tilbyder et bredt udvalg af ydelser, herunder sikkerhedsvurderinger, managed security operations, red team-tjenester, digital efterforskning og hændelsesrespons samt GRC-rådgivning. Med næsten to årtiers erfaring leverer TISS adaptive, efterretningsdrevne forsvarsmekanismer, der hjælper kunder med at forudse og reagere på cybertrusler, der er i konstant udvikling. "Hos TISS arbejder vi på at skabe et mere sikkert digitalt miljø ved at give organisationer mulighed for at operere sikkert og med selvtillid," udtalte Mahir Mohsin Sheikh, administrerende direktør for TISS. "Vores samarbejde med Andersen Consulting giver
Andersen Consulting udvider sin teknologiplatform i Frankrig20.3.2026 17:28:00 CET | Pressemeddelelse
Andersen Consulting udvider sit udbud inden for digital transformation med en samarbejdsaftale med Teolia Consulting, et fransk firma, der specialiserer sig i projekt- og produktstyring, cloud-platformsudvikling, datatransformation samt implementering og brug af Atlassian-pakken. Teolia Consulting blev grundlagt i 2014 og hjælper organisationer med at opnå digital performance, fra agile metoder til løsninger, der reducerer lanceringstiden. Virksomhedens ekspertise består i at levere integrerede strategier, der bringer teknologi og organisatorisk forandring i overensstemmelse. Virksomheden arbejder på tværs af brancher, herunder inden for bank- og finanssektoren, forsikring, mode og detailhandel, og hjælper kunder med at få større robusthed og accelerere deres digitale modenhed. "Hos Teolia Consulting mener vi, at ægte transformation opstår, når teknologi og mennesker udvikler sig sammen," sagde Lucienne Jacquet, der er administrerende partner i Teolia. "Ved at samarbejde med Andersen C
Incyte to Highlight Late-Breaking Hidradenitis Suppurativa Data at the 2026 American Academy of Dermatology (AAD) Annual Meeting20.3.2026 15:00:00 CET | Press release
- New, late-breaking 54-week data for povorcitinib in hidradenitis suppurativa (STOP-HS1 & STOP-HS2) to be highlighted - Featured abstracts for ruxolitinib cream (Opzelura®) and povorcitinib include multiple ePosters in atopic dermatitis, hidradenitis suppurativa and vitiligo Incyte (Nasdaq:INCY) today announced that data from key programs in its Inflammation and Autoimmunity (IAI) franchise will be presented at the 2026 American Academy of Dermatology (AAD) Annual Meeting, to be held March 27 – 31, 2026, in Denver. “At AAD 2026, we are presenting late‑breaking 54-week results from the Phase 3 STOP‑HS program evaluating povorcitinib in hidradenitis suppurativa (HS),” said Jim Lee, M.D., Ph.D., Group Vice President, Inflammation and Autoimmunity, Incyte. “These data provide longer term evidence of the safety and efficacy of povorcitinib in HS patients and further strengthen the significant growth potential of our Inflammation and Autoimmunity franchise.” Details on key data presentation
MUSASHI JAPAN by TAIMATSU Launches “Road to Shogun” – A Journey Through Craftsmanship and Discovery20.3.2026 13:58:00 CET | Press release
Musashi Japan by TAIMATSU Co., Ltd., a contemporary Japanese knife brand rooted in the spirit of craftsmanship and cultural harmony, has announced its newest experiential campaign: “Road to Shogun.” This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260320887471/en/ Designed as the brand’s most ambitious customer journey to date, the campaign invites visitors to explore participating Musashi Japan stores while discovering the traditions, culture and craftsmanship that inspire the brand. Inspired by the journey towards mastery, the experience encourages participants to progress through a series of ranks whilst visiting stores and unlocking rewards that celebrate elements of everyday Japanese culture. At Musashi Japan, craftsmanship is not only about the final product, but also about the path taken to achieve mastery. The Road to Shogun reflects this philosophy by guiding customers through a journey that mirrors the dedication, cu
Futur Delivers Strong Growth and Record Profit in 202520.3.2026 12:05:00 CET | Press release
In 2025, Futur added 21,000 new customers and the inflows amounted to 34 billion kronor. At the end of the year, the total savings capital was 252 billion kronor, an increase of 7% from the previous year and a new record level. "2025 was a record year for Futur. In a market characterized by sharp market fluctuations, Futur continued to invest, grow and deliver strong results. Behind this record performance is stable customer growth, strong inflows and cost discipline. Our close cooperation with over 60 partners gives customers the freedom to choose the asset management and advisory services that best suit them. The strategy of letting the customer choose is appreciated, which is reflected in us welcoming more than 21,000 new customers during the year", says Torgny Johansson, CEO of Futur. "We are optimistic about the future. Futur has great opportunities to continue growing in the coming years by developing innovative and efficient services for savings and pensions. I am proud of how a
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom