The components of a platform for change

In a world where first-mover advantage can be fleeting, success depends on the quick, creative and flexible application of digital technology. But too many P&C companies are operating with legacy systems that are stuck in the past.

Legacy systems can’t share information, they demand time and energy for maintenance and many of them don’t keep up by offering meaningful product enhancements in a timely manner.

Hence, the name ‘legacy.’ That’s why insurers need to change.

To clear a path for the future, insurers need to replace legacy core systems with a digital platform architected for connectivity across partner, developer, data and process ecosystems. It should be open to integration with technologies that deliver a complete view of information to whoever needs it, wherever they are. The right platform should also provide deployment options that allow insurers to eliminate the responsibilities and limitations of the on-premises deployments of the past, providing organizations with the freedom to focus on customers, not technology.

This may sound like sweeping organizational change, but in reality, it comes down to selecting the right central platform to connect existing, crucial core systems that insurance organizations rely on every day. That way, they can undergo a natural evolution of their existing structure to drive end-to-end process improvements.

So which platform gives insurance organizations the most bang for their buck?

The answer lies in a content services platform that manages content, processes and cases across your enterprise while connecting with your key insurance applications. This improves the agility of your people, your departments and your entire organization.

But how does it achieve this?

Extend and secure core insurance applications

A robust content services platform fills the gaps between existing applications by capturing the documents and information they cannot, making them instantly accessible. This empowers workers to manage scanned paper documents, print streams, application files, electronic forms, emails and more, all in the context of their familiar core system screens and business processes.

The right platform also provides a bi-directional transfer of this information. Whenever data is updated in one system, it is updated in all the others, because the platform centralizes all integration.

Spend less time looking for information and more time working with it.

This means employees, agents and brokers spend less time looking for information and more time working with it.

But there is no use in making your information more accessible if just anyone can find it. It still needs to be secure.

That’s why the right platform should apply multiple levels of protection, including advanced authentication and encryption, to ensure data is secure at rest, in use and in motion. After all, your customer and organizational data isn’t only your greatest asset, but your greatest liability if it isn’t secure.

Speed new product and process development

When choosing a platform, insurers need to be on the lookout for true low-code configuration.

Low-code configuration empowers non-technical line-of-business personnel to design or change products to meet evolving needs, create workflows that improve process efficiencies and generate reports that provide new insight. As your business changes, your processes need to be able to evolve along with it.

Simply put, you build better applications, faster.

Multiple deployment options

Insurers also need to consider the management side of their platforms. Do they truly want to face the challenges and costs associated with an on-premises deployment?

Choosing a platform with a proven cloud deployment option empowers insurers to take the IT burden off their shoulders. Carriers should weigh the benefits of eliminating the responsibilities and limitations of on-premises deployments with the freedom and flexibility of cloud-based software delivered as a service.

This allows insurers to remove the burdens of system maintenance, security and upgrades – freeing staff and resources to focus on activities of more strategic value.

A platform for change

Insurers moving toward this new connected insurance experience need a technology foundation to help manage data and ensure success. Integrating OnBase, Hyland’s content services platform, with the Duck Creek platform provides insurers with a property and casualty engine built for the increasingly digital world.

Together, the two solutions help your organization:

  • Extend the core
  • Simplify information access and control
  • Keep information secure
  • Reduce IT expenses
  • Speed development of new products and processes

To learn more about how OnBase and Duck Creek can help you transform your insurance business, download A Platform for Change: Duck Creek and OnBase.

Cara McFarlane

Cara McFarlane

Cara McFarlane is the global solution marketing manager for Hyland’s insurance vertical. Her mission is to effectively position Hyland as the leading content services platform within the insurance market by... read more about: Cara McFarlane

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