The growth imperative:
Top strategies for the next 12 months

1

Launching new products

2

Enhancing digital client experience

3

Improving client retention rates

4

Acquiring new clients

5

Making operational efficiencies

New risks create new challenges

78%

say the COVID-19 crisis highlighted an urgent need to upgrade solvency and risk-modelling capabilities


We’re seeing fundamental changes in how insurers engage with policyholders.

–Martin Sarjeant, Senior Vice President, Product Management, Insurance, FIS

Martin Sarjeant

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To confront these challenges and future-proof your growth models, you must take three actions:


Fast-track digital payments

The pandemic has triggered a rapid shift to online purchasing, even for more complex insurance products.

Insurers are accelerating efforts to put a digital payments infrastructure in place. Those that succeed will be more competitive by:

Improving the client experience
Reducing fraud
Cutting costs
1






What are the leading drivers for your
investments in payments technologies?


By digitalizing payments, insurers are not just transforming the claims experience and the customer experience – they’re also lowering their direct processing costs.

–Martin Sarjeant, Senior Vice President, Product Management, Insurance, FIS

Martin Sarjeant

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Modernize risk modelling

COVID-19 has triggered new risks for insurers to assess and mitigate – from uncertainties around claims and pay-outs to the impact of volatile financial markets on their capital requirements.

2






56%

say that insufficient computing power was a major barrier during the pandemic to enhancing solvency and risk modeling

62%

are now investing in risk management upgrades to manage pandemic-driven risk challenges



The pandemic tested insurers’ risk management solutions to the limit.

–Martin Sarjeant, Senior Vice President, Product Management, Insurance, FIS

Martin Sarjeant

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Embrace the cloud

Insurers need to focus on competing in the new growth environment and responding to new risks.

To free up their teams and become more agile, the vast majority are increasing their reliance on cloud-based managed services. But the cloud isn’t one size fits all. Where are insurers deepening their reliance on the cloud?

3

83%

Risk management

80%

Customer management systems

80%

Digital payments

72%

Compliance management







One cloud solution does not fit all


It has finally become clear: if they don’t modernize, they will lose market share.

–Olivier Dreyer, Director of Enterprise Strategy, Capital Markets, FIS

Olivier Dreyer

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So, what’s next?

Now that you know the facts, you need a fintech partner who can help future-proof your operations.
Get more insights into the challenges that lie in your way – and discover how we can solve them together.
Select your area of interest to find out more.

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