Oct 01, 2020
On Adacta´s webinar entitled “Technology as the backbone of insurance ecosystems, innovation, and sales strategy”, Frank Genheimer from New Insurance Business and Boris Bajic were joined by Peter Godec from Adacta to share their inside knowledge on insurance innovation and the technology supporting it. Hosted on 24 September, the webinar fostered a discussion around digital spin-offs of traditional insurance companies, technology requirements, and concrete industry examples.
The speakers deep-dived into key issues and participants' questions alike, starting with Genheimer´s session on Ecosystems, innovation, and the rest. Frank talked about insurtech waves and emphasised the importance of key industry players working together to form a customer-focused ecosystem based on win-win partnerships. Frank Genheimer concluded his presentation with the following thought:
“Time is running out for traditional insurers but the good news is you are not alone. There are people out there that will help you through this process. So, think about cooperation.”
Ecosystems themselves are not enough to fast-track the innovation in insurance without technology supporting it. Boris Bajic, Adacta CEO and Certified Actuary, touched upon the insurtech waves, technology trends, and requirements:
“To support innovation in insurance, technology should support rapid product innovation, fit modern digital ecosystems, provide insurance-specific business logic, and be scalable with a fast learning curve and flexible delivery model.”
Adacta was quick to spot and translate trends into platform functionality. Peter Godec, Software Architect, Adacta, demonstrated how AdInsure insurance platform served as an industry example of an insurance platform with built-in industry trends and observations:
“AdInsure was designed as a direct response to critical market requirements. We came up with the concept based on configurations driving the innovation without the need to involve the vendor. This means insurers and partners can design insurance products, processes, registries, UI, and integrations on their own.”
The company reportedly spent a lot of effort on simplifying the work for insurance business analysts and developers with AdInsure Studio, a productivity tool that launched earlier this year and enables users to change most configurations.
The webinar is free and available on the link.
Adacta is a leading software provider for the insurance industry. Our insurance platform, AdInsure, gives Life and P&C insurers a future-proof way to streamline their operations and processes. Established in 1989, we have spent decades helping insurance organisations grow their digital capabilities and drive increased profit. Our mission is simple: empower tomorrow’s industry leaders to realise their potential through technology.
The AdInsure insurance platform is the digital foundation your business needs to keep up with industry changes. It connects and supports all of your teams, helping you work smarter, launch faster, and provide modern customer experiences. Built around industry best practices, AdInsure combines comprehensive features in a single, unified platform. It delivers an innovative environment that connects your organisation with emerging technologies, service providers, partners, and clients.