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By Mike Scott, Business Development Manager, Charles Taylor InsureTech

Insurers and brokers are facing various challenges as they strive to integrate technology into their businesses. The complexity of the process and the wide range of options available make it difficult for buyers to choose the best solution for their needs.

Joining the dots

Each year, the insurance industry focuses on big theme challenges to get to grips with and ensure they have the operational/technical agility to meet these challenges head-on or have budget available to tackle the issues that could arise from these topics.

From a technology perspective, the rise of the InsurTech firm, having to constantly deal with legacy systems, and rising customer expectations results in a multitude of different strategies that can be and are employed by insurers with seemingly very similar profiles.

The default technology view on the back of these 3 “big topics” is usually integration and modernisation/digitisation. These terms can be dangerous if misunderstood and can lead to the tail wagging the dog if not all facets are approached with equal diligence and focus. 

Without consideration of the operational, or people impact of technology driven changes there is a very good chance that firms will set themselves up for future headaches.

With technological and operational integration, you’re effectively looking to cut out silos. Whilst a large proportion of the sector is disparate, there are some truly innovative and competitive companies out there operating in the insurtech and technology sectors that are driving the market towards a more seamless future.

As the market consistently states, this is all about the journey for the end-customer. So how do you achieve that outcome whilst improving efficiency and growing business simultaneously? 
The answer is by amplifying the Network Effect.

The key differentiator for Charles Taylor InsureTech is our ability and expertise in replacing or integrating legacy technology with customer-focused, fit-for-purpose capabilities. We offer a modern, scalable, and cost-effective range of solutions that enable companies to replace their legacy technology stack and move to a more cost-efficient and productive environment at the same time. 

Although the upfront cost of implementing core transformations can be significant, the long-term cost savings and ultimately interoperability within the market (be it with partners, InsurTech firms or customers) are substantial, making it a compelling proposition for insurance companies.

Moreover, our unique expertise and knowledge of the insurance industry enables us to offer practical and effective product solutions, We not only a develop solutions but we are also a practitioner in the industry – a rare quality in a technology company. With our knowledge of the market, we provide tailored solutions that meet specific needs, including connectivity and integration solutions to address communication challenges between companies.

Charles Taylor InsureTech enables insurance companies to become better equipped to serve their customers by providing technology solutions that are practical and effective solutions based on our industry knowledge and technology expertise.

Successfully integrating technology 

As a company, Charles Taylor InsureTech has a three-prong value proposition which sets us apart from other industry players. Firstly, we have an enhanced technology platform. Secondly, we offer legacy modernisation services. And finally, we have an established strength in integrated insurance services. All-in-all, a comprehensive end-to-end solution that seamlessly integrates risk management services, claims handling, and cutting-edge technology.

That’s why Charles Taylor InsureTech created InHub, to integrate various systems and allow market participants to access a more comprehensive view of their customers. 
Charles Taylor InsureTech’s InHub is a scalable, flexible, and user-friendly system that can be tailored to fit the needs of each client.      

By using Charles Taylor InsureTech InHub, insurers can enhance their ability to interact with their customers on a more individualised basis, creating more opportunities for growth and increased customer loyalty. 

It’s user-friendly interface and comprehensive features make it a valuable tool for insurers looking to streamline processes and improve customer experience. InHub is a compelling solution for insurers looking to gain a competitive advantage in the insurance industry.

We understand that the insurance industry is complex, with many challenges faced by insurers and brokers when it comes to integrating technology into their businesses. Our solution is to leverage our wealth of experience and industry-specific knowledge to make the process of incorporating technology easier for companies. 

Want to know more? Get in touch with the team.

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