TARGET ARCHITECTURE 

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TARGET ARCHITECTURE : ACCELERATING TECHNOLOGY MODERNIZATION FOR FRICTIONLESS CUSTOMER JOURNEYS IN THE INSURANCE INDUSTRY

  • Matthew Hutchins and Ashish Bhatt
  • Published: 14 November 2023


With insurance customers’ expectations soaring and traditional insurers facing competition from disruptive, technology-driven insurtechs, the need for seamless digital experiences is paramount.

As they navigate the changing business landscape, the key priorities for insurers include:

  • Providing omnichannel, unified experiences, not just for consumers but also for intermediaries including agencies, advisors, broker, and agents
  • Creating an insurance platform as a service (PaaS) which can integrate with multiple user interface channels, including APIs to provide collaboration opportunities with marketers, digital brokers and fintechs and open up new business opportunities
  • Contributing to, and taking the lead on, interoperability across the insurance industry – e,g. the development and adoption of Fast Healthcare Interoperability Resources (FHIR) in the health space
  • Launching new products by designing or enabling enhanced onboarding and integration experiences for third party ecosystems – e.g. hospital networks, value added service providers, commodity services
  • Ensuring agility is embedded across the insurance value chain and supporting architectures to allow for a fast response to new and changing regulations, including Consumer Duty.

UK INSURANCE SURVEY 2023

Our 2023 UK Insurance Survey captures responses from 1,000 policy holders. These survey findings inform insights and recommendations from Capco's local insurance experts on the key roles of data and personalisation.

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