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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 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.
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 the 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.
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.
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.
03 things
to know
01
65%
65% of consumers have cut ties with an insurer over a single poor customer service experience.
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

Is your institution ready for cybersecurity regulations?


Cyber regulations and guidelines compliance are pressing challenges for banking and financial services, yet many organizations may be unprepared for the looming deadlines or unaware of the steps they need to take in order to comply.


Financial institutions need a consultative partner with the perspective, expertise, and direction to help them anticipate, protect against, withstand, and recover from information and communication disruptions and threats.


Kyndryl’s integrated approach to cybersecurity and resiliency — combined with our extensive modernization capabilities — can help you achieve and surpass compliance standards while safeguarding your mission-critical systems, applications, and operations.

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
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