The insurance market we will experience in the coming years will be very different from the market of the past. The nature of risk is changing. Customer expectations are shifting in the interaction and use of services. The nature of the products our customers need is evolving. 

The pace of change for business and technology is also accelerating. An exponential growth in computing capability is having a greater impact on business. It is the next industrial revolution.

These changes will affect traditional insurance value propositions for not only individual customers, but also wider societal needs. It will require new mind-sets and business models to be successful.

The intersection of technology and business will drive market innovation. However, the nature of this change makes it hard to predict which direction the industry will go or the future needs that will emerge.  

Applying digital sticking-plasters over traditional processes and products is no longer enough.

Data

Growth of the data driven society, and hyper-connected business and individuals will fundamentally change the nature of risk insight and customer interaction.

Intelligence

Rapid improvement and ease of access to machine learning, capable of augmenting human capability, will allow organisations to redefine service and costs. However, the human side of insurance services will still be core to designing new customer service models.

Platforms

The scalability and lower barriers to entry of cloud based platforms are changing the nature of market competition, but also offer new models for partnering to deliver new service offers.

We understand that every client is at a different stage of their digital maturity and will have a unique set of business challenges and priorities they will need to address.

Our flexible digital transformation framework sets out six key areas of a digital operating model for insurance organisations required to create competitive advantage in the emerging insurance marketplace.

Giving you the ability to pivot

The increasing pace of change of business and technology landscapes needs business models that can adapt. Most insurance organisations are still constrained by legacy systems and processes.

We help our clients build resilience, flexibility and agility by delivering new digital capability while addressing legacy to accelerate their ability to change and adapt.

Developing a Modernisation Roadmap

Our CIO Advisory team can guide you on how to transform your IT services and capabilities, giving you an outcome driven roadmap towards a more agile business.

Reducing the Impact of Legacy Services

Our experienced teams can offer Managed Legacy services, taking on and transforming your legacy services, applications and infrastructure services. This will free-up your own teams to focus on developing new products and services and create enhanced competitive advantage.

Modernising Legacy Systems and Processes

Our Low Code teams can work with you to overlay legacy systems and processes with flexible digital capability delivering near term business benefit, while the longer term task of decoupling and removing legacy systems takes place.

Optimising Your Existing Application Portfolio

Our architecture teams can partner with your IT Management teams to assess, transform and optimise the business benefits and costs of your existing application and infrastructure estate, as part of the overall modernisation roadmap.

Maximising the benefits of your Cloud strategy

Our cloud consulting teams can move your legacy systems to the cloud, modernising applications for the transition or optimising your existing use of cloud.

Bringing you digital agility

The next generation of insurance businesses will be designed as digital platforms able to rapidly re-configure new services and products, and distribute them quickly and efficiently across multiple channels.

We help our clients design adaptable architectures using a mix of our own IP and components along with partner solutions to create responsive business models.

Designing digital operating models

Our digital consulting teams can help you define future operating models, modern solution and data architectures, and operating models to support your ability to create a digital business.

Keeping human centred design at the core

Our Human-centred designers and User Experience experts work with our Agile and Low Code Squads to design, create, and build new capabilities which ensure the needs of your customers and staff are at the centre of your new Digital Solutions.

Making Innovation work for you

Our Managed Innovation framework will help you quickly identify existing challenges which can be solved through an iterative innovation process; this will bring in new innovative services and products more rapidly and ensure that the business benefits are considered throughout the design process.

Accelerating your journey to digital

Using our own IP and our open Partner ecosystem we can design and create solutions to address specific problems within your business more quickly and flexibly. We have a number of pre-defined solutions available designed for the insurance market covering:

Treating data as a  product to build new service value

Insight from new data sources and flows will be a key differentiator in the battle to better understand customers and risk. Leaders in the insurance market will have data central to their product design strategy.

We leverage over 20 years of experience in rating services, plus 5G, IOT, earth observation and geographical data systems, backed by a history of creating data exchanges to help clients create insight driven operating models and products. 

 
Freeing up your legacy data

Through our data modernisation services we are able to move your data out of silos and failed data lakes into modern accessible data architecture and solutions; reducing the constraints of legacy data is key to creating new insights for products, rating and risk.

Improving your risk, pricing and rating insights

Using our years of experience in working with insurance data and standards we can augment your own data with new data sources across IOT, smart cities, earth observation and geographical data. We also partner with multiple external data providers which can be accessed through our insurance integration platform – Insurance Market Manager

Harnessing the power of real time data

CGI’s unique domain knowledge of satellite systems and geospatial data gives our customers access to deep understanding of how new real and near time data sources can be used to build new insights for pricing and risk modelling. We also provide our own solutions to accelerate your ability to harness this streaming data - GeoData360, GeoApp , SensorInsights 360

Advancing your data insights

Through our Advanced Analytics Services, our teams are able to help you modernise how you analyse your data and apply the insights. We utilise experienced resources to augment your own team with additional skills in data science and engineering. Access to these teams can be delivered as a service providing flexible access to the skills and tools when you need them.  

Using the power of the machine

Through our Emerging Technology Practice teams, we can provide your underwriting, actuaries, pricing and modelling teams with access to skilled resources, supported by own unique machine learning solutions, to deliver new initiatives, or services based on machine learning and artificial intelligence technology.

Creating new client value and bottom line improvements

New pricing and rating approaches are gaining traction, driven by new real time data sources allowing continuous pricing, and IOT and smart things enabling new risk optimisation models.

We help pricing, risk and claims teams deliver new insights, products and services by shifting to proactive risk assessment, pricing and claim mitigation business models.

Right product, right price, right place
Using our Insurance Market Manager platform we help you optimise the distribution of products and centralise pricing. We also help clients build new embedded insurance distribution models. This platform enhances your pricing capability through data augmentation, and increasing transparency of what is being written across all distribution channels.
Enhancing decision making
Using our Workbench platform and other automation and insight services, we can work with you to improve the insights provided to staff, customers and partners at the point of decision-making, improve efficiency and accuracy.
Escape the tyranny of spreadsheets
Our rating and pricing consulting and technology experts can help your teams move away from manual spreadsheet rating, while still retaining the autonomy to directly manage their own rating and pricing models. We have an extensive suite of rating and pricing tools built on over 20 years of market leading rating experience. Ratabase, Ratabase Exchange, and rating services.
Creating next generation pricing
More of our clients are investigating the use of Artificial Intelligence and Machine Learning as part of the rating and risk management process. There can be a steep, and expensive, learning curve involved. We can provide “pay as you use” access to strategic skills, engineers and insurance specific solutions. We can help you accelerate investigating and creating solutions leveraging machine learning.

Augmented Experience

Digital leaders are already delivering always-on customer service models, with automated services available 24 hours a day. Support human interaction with assisted insight and increase efficiency.

We design new service models using a mix of intelligent process automation, smart agents and advanced analytics to make human interaction more engaging.

Accelerating your journey to super human
Our Smart Agent as a Service provides a hosted service with skilled resources to support you rapidly designing and deploying your first smart agent services. This provides you with the chance to discover the benefits and value of smart agents before fully committing to the technology.
Delivering critical insights to your decision makers
Using our Workbench platform and using semantic data processing and machine learning, we provide a single “pane of glass” on intelligently prioritised incoming business, allowing your teams to spend their time on the work best matched to your business appetite.
Optimising customer service with Intelligent Automation
Clients are working with us to move beyond their initial RPA implementation to use Intelligent Automation. We are creating engaging customer and staff experiences and freeing up staff from manual processes, to focus on what matters most. We work with a range of partners including UiPath and Blue Prism, as well as low code platforms such as NetCall and OutSystems to digitalise legacy manual processes and reduce operational costs.
Delivering “always-on” customer service
Using a combination of Smart Agent and Conversational AI platforms along with data services, our teams use new machine learning capabilities to augment your call centres and website services. We are able to use a flexible approach to select the right mix of intelligent automation and smart virtual assistants to solve business challenges. These capabilities are far beyond the chat-bots you may have experience before.
Moving beyond documents
With new document processing automation, using machine learning capabilities, we are able to reduce manual document processing. This includes intelligent flexible data extraction from unstructured documents enabling automated triage and response processing, as well as reducing rekeying.

Building a business with digital assurance built in, not bolted on

Emerging open business models with 24-7 customer self-service and a reliance on cloud services requires a new way to consider the security of your business and data. To protect reputation, security must be built in, not bolted on.

We leverage our depth in security assurance, used to protect critical national infrastructure, to help you manage complex security challenges with a business focused approach – protecting what is most valuable to you. We can provide the support for you to operate your cloud first open business with confidence.

Assess the risk

Helping you assess and manage security vulnerabilities so you can be confident your organisation is secure, compliant and ready to grow.

  • Compliance
  • Cyber security strategy
  • Threat, vulnerability and risk assessment
Protect the business

Helping you build in security early and test its ongoing effectiveness - securing the systems your business relies on to operate and grow.

  • Compliance
  • Cyber security strategy
  • Threat, vulnerability and risk assessment
Operate with Confidence

Helping you monitor, prevent and respond to security attacks in a reliable and cost effective way.

  • Incident Response and Mediation
  • Advanced Threat Investigation
  • Protective Monitoring Services

 

Managed Innovation - Insurance

CGI Managed Innovation enables clients to explore business opportunities and rapidly deliver innovative solutions to challenging business problems.

Learn more

 

group of diverse professionals sit around a table in discussion

 

Professional woman smiling at a meeting

Voice of our Clients - Property and Casualty Insurance

This whitepaper explores the overall top trends in the Insurance sector, how well business and IT’s priorities are aligned and summarises our top insights for building digital strategies for Property and Casualty organisations.

Learn more

 

8/10
leading UK insurers  partner with us

 

3,500
UK insurance specialists in our team
40+
years experience delivering transformational change at the heart of the insurance industry