This IDC Financial Insights report delineates our predictions on 10 key areas that insurers in the Asia/Pacific region are focusing resources on to revolutionize their business strategies and architecture in 2011. The document brings together opinions on critical developments we foresee Asia-based insurers focused on for the new year and incorporates opinions formulated from ongoing research, survey, and conversations with industry practitioners and vendors serving this community.
These predictions reflect key approaches innovative insurers operating ahead of the curve are already integrating into their planning agendas for the months ahead. Our listing will also enable financial technology vendors to prioritize their resources and solution sets and build synergistic partnerships with their customers.
"The insurers of today are operating in a changing and highly competitive environment fraught with unpredictability and challenges. Those moving beyond operating in a business-as-usual mode to focus on deriving that added competitive edge are placing resources on enhancing channel and customer management by consolidating customer data and on identifying opportunities though analytical application, driving 'real' customer centricity, and integrating a multichannel delivery model to improve customer interaction," remarked Li-May Chew, CFA, associate research director for IDC Financial Insights' Asia/Pacific Financial Advisory Service. "Carriers are also seeing the urgency to augment efficiencies and revenue through cost management and change transformation initiatives and diversifying into ancillary lines of businesses. They are further embracing emerging technologies like insurance telematics or utilizing financial digital devices and services and considering cost-effective alternative modes of consuming technology."
Asia/Pacific Insurance 2011 Top 10 Predictions: After the Storm Comes the S...
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