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Insurance
Overview
Kyndryl helps insurers transform their IT estate and improve the bottom line by reducing operational complexity, optimizing critical business processes with data and technology and enabling top talent with flexible, secure and resilient infrastructures.
Enable fast, empathetic and superior claims experience
A large insurer wanted to leverage unified IT operating model and leading IT operations platform​ capability to enable high availability and a premier claims experience.
Deliver seamless digital experiences, empowering a global workforce
A global insurance company faced challenges in digitally transforming its global workforce to maximize employee engagement and intellectual capital.
Protect personal & financial data for Insurance
A global financial services firm faced ever increasing cyber security threats to its sensitive customer and financial data.
Insurance
Modernize and transform for the future
Embrace the change today and reap benefits of IT modernization
Insurance
Modernize and Transform for the Future
Transforming legacy IT systems into modern architecture can reduce technical debt and thrust your business into the spotlight. Embrace the change today and reap benefits of IT modernization
Kyndryl helps insurers transform their IT estate and improve the bottom line by reducing operational complexity, optimizing critical business processes with data and technology and enabling top talent on flexible, secure and resilient infrastructures.
Insurance
Enable a premier claims experience
A large insurer wanted to leverage unified IT operating model and leading IT operations platform​ capability to enable high availability and a premier claims experience.
Learn more
Insurance
Deliver seamless digital experiences, empowering a global workforce
A global insurance company faced challenges in digitally transforming its global workforce to maximize employee engagement and intellectual capital.
Learn more
Insurance
Protect personal & financial data for Insurance
A global financial services firm faces ever increasing cyber security threats to its sensitive customer and financial data.
Learn more
03 things
to know
01
65%
65% of consumers have cut ties with an insurer over a single poor customer service experience.
Source: Business Wire
02
95%
95% improvement in customer experience driven by AI-powered claims handling.
Source: Forbes
03
83%
83% of consumers say data privacy is important when choosing an insurance provider. 73% of insurers believe they are at least prepared for a cyberattack, but only 39% feel highly prepared.
Source: ITL

industry experts

Our experts, your challenges
Read the Q&A with Kyndryl insurance expert, Tom Scheel.

QWhy are Insurance companies looking to modernize their core business platforms?

AFirst, let me tell you how legacy systems challenge business growth. They're complex, outdated and hard to scale. A more significant challenge includes changing regulations and customer expectations. Through platform modernization, insurance providers can boost their efficiency and availability, improve customer experience and accelerate their time to market.

QHow are Insurance organizations balancing innovation with data security and regulatory compliance?

AInsurance providers balance compliance and security by the way of data encryption and access control policies. They will have to comply with data protection laws and GDPR stringently to ensure sensitive data is handled or stored responsibly. We've also noticed a positive trend of increased spending on blockchain and secure data-sharing protocols compared to previous years.

QHow are Insurers utilizing technology to create a more seamless claims experience?

AMost insurance providers use digital platforms for processing claims and even reviewing claims submitted through mobile apps. They're using automation and AI to fast-track validation and settlement. Today, telematics and IoT devices are extensively used to harness real-time data, which enables faster and more accurate claims assessment, leaving less margin for errors.

QHow are insurers using data and technology to personalize the insurance experience and cater to diverse needs?

AInsurers are utilizing advanced analytics and technology to create personalized customer experience. By closely analyzing customer data, including personas, preferences and risk profiles, insurers can tailor products and services to meet individual needs. With an abundance of data at their fingertips, executives can confidently offer customized pricing and relevant product recommendations. This approach ensures a thoughtful, sincere and enthusiastic approach to serving customers.

QHow do you see AI impacting the future of insurance?

AAI is finding applications in insurance operations. Not only does it improve efficiency and customer satisfaction in areas like underwriting, risk assessment, fraud detection and customer service, but it also offers new opportunities for competitive pricing and customer experiences. By leveraging machine learning algorithms, insurers can gain valuable insights into key trends and unlock new opportunities for growth.

QHow can Kyndryl technology and services help insurers address the business challenges they are facing today?

AKyndryl's enterprise-level solutions are perfect for insurance providers to address business-critical IT challenges. With our strategic consultation, they can unlock your full potential and achieve operational excellence, innovation and customer satisfaction. Our expertise in technology and strategy enables us to automate routine tasks, synthesize data, engage with customers and manage risk, thereby restoring efficiency to their business. Plus, we can streamline compliance, expedite claims processing, accelerate product development and safeguard sensitive customer data. Our technology partnerships enable us to help insurers solve complex problems and position themselves for long-term success.
See more
Tom Scheel
Vice President
Insurance
Kyndryl
Tom Scheel
Vice President
Insurance
Kyndryl
Perspectives on Progress
Business transformation
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IT modernization
2023 state of IT risk: How companies are charting paths to cyber resilience
Podcast | Sep 20, 2023


Take the next step
Insurance
Helping insurers modernise and transform for the future

Provide data-driven digital experiences

Leverage predictive analytics and automation to identify potential markets, reveal behavior patterns, and personalise customer experiences.

Kyndryl can help you:
  • Build a robust data fabric reference architecture that provides enterprise-wide access to build new and exciting tools and capabilities
  • Leverage predictive analytics that yield intelligent insights to personalise products and services, and improve customer experiences
  • Implement AI-infused operations that optimise efficiency and cost savings which can then be passed on to other areas of the business
  • Create agile, integrated, flexible solutions for complex data management problems that accelerate speed to market for new products across hybrid multi-cloud environments

Modernise for efficiency and flexibility on any cloud

Streamline and modernise your IT estate with new approaches and technologies to boost profitability, increase resiliency and lower costs.

Kyndryl can help you:
  • Form a flexible foundation to modernise and continuously optimise platforms and models based on enterprise frameworks
  • Build fit-for-purpose platforms to increase the efficiency of application teams while reducing toil, cost and time to market
  • Lower operational costs and increase reliability with end-to-end automation that transforms IT organisations from a core delivery and support capability to a true digital-native business partner
  • Integrate seamlessly across public, private and multi-cloud, and across ecosystem value chains
  • Use intelligent monitoring and preemptive management of hybrid multi-cloud environments to remain proactive and up to date across systems
Kyndryl can help you:
  • Implement fast, reliable, and scalable recovery across hybrid multi-cloud environments that minimises the business impact of unexpected events and cyber threats
  • Accelerate adoption of zero trust strategies and architectures with Kyndryl's industry patterns and accelerators
  • Deploy testing for hardware, networks, applications, devices (IoT), personnel and other systems and technologies to ensure effective protection of identities, infrastructure and data against internal and external threats
  • Ensure secure cloud governance, compliance and visibility across the IT environment with a digital self-service model
  • Provide 24/7 protection that continuously monitors, automates and enforces security policies and compliance mandates

Access the right IT talent at the right time

Tap into a wider talent pool to access individuals or teams with the specialised technology skills you need, when you need them.

Kyndryl can help you:
  • Access technical expertise to supplement high functioning, agile teams with the right tools, skills, approaches, and expertise required to achieve IT and business objectives
  • Implement tools and analysis to measure and improve employee experiences across each IT touchpoint, such as procurement, devices, apps, management, and support
  • Fulfill staffing needs by providing resources either on-site or remotely to manage the mainframe environment
  • Provide data-driven analysis of current IT environments and recommendation for optimising productivity and delivering a seamless digital workplace experience
Customer use case
 

Customer Challenge
An insurance provider needed to address gaps in their online collaboration environment that were causing significant communication issues. Because they are highly dependent on digital interactions, any disruption can have serious negative impacts on productivity and efficiency. The insurer needed to act fast, but was also looking for solutions to prevent these issues before they happen.

 

How Kyndryl helped
The Kyndryl Digital Workplace Services team provided a detailed analysis of the insurer's current platform and a plan to quickly address the software, network and new architectures needed to support their virtual work needs. Kyndryl and the insurer worked together to solve the immediate video conferencing challenge with minimal waste, knowing that the current tools would soon be replaced by a new collaboration suite. Through a readiness assessment, Kyndryl’s experts optimised investments in tools and systems that helped the insurer transition to the new platform.

 

Outcomes achieved

  • Minimised business disruption and continued serving customers during a high-demand period
  • Resolved their issues quickly and cost effectively
  • Identified critical issues to address as the insurer transitioned to new communication tools
  • Used this experience as a roadmap to improved business outcomes with increased efficiency
Kyndryl expert spotlight

Anandh Maistry

Managing Partner, Banking & Insurance ANZ

 

“We’re focused on helping our customers build and execute their modernisation roadmaps to unlock business value and avoid potential issues, like vendor lock-in.”

Connect with Anandh