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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
Behind the patent: A method for curbing insurance fraud
Article | Jun 21, 2023 | Read time: 4 min
IT modernization
2023 state of IT risk: How companies are charting paths to cyber resilience
Podcast | Sep 20, 2023


Take the next step

Kyndryl partners with insurers to achieve key business outcomes

Customer use case
 

Customer Challenge
A large insurer experienced a challenge with resiliency while undergoing a data center outage. They could not move their systems to their out of region data center without knowing if they would lose data. When the insurer got the data center back online, they had a backlog of tens of thousands of insurance claims. The organization wanted to collaborate on redesigning their technology estate for faster recovery and a better customer experience.

 

How Kyndryl helped
The insurer realized that their recovery envelope was no longer appropriate and also wanted to address other rising cyber threats. Kyndryl Consult was brought in to redesign their posture from the ground up. The root causes of the data center outage were determined using a Business Impact Assessment, Application Grouping Assessment, and a Dependency Analysis. These assessments helped define orchestration requirements and identify critical tools that are essential to their recovery plan.

 

Outcomes achieved

  • Improved security posture and resiliency across the company to prevent backlogs and ensure timely customer service
  • APIs and DevOps automation were introduced to address the startup runbook time and decrease human dependencies
  • Two failover platforms for critical daily operations, both customer facing and internal, were implemented in the primary data center, as well as a backup site to prevent future downtime
Customer use case
 

Customer Challenge
A U.S. insurance provider was in the process of moving their operations to cloud to increase speed and agility. They had moved a handful of applications with the support of ecosystem partners, but needed help moving mission-critical applications, like Guidewire, which presented data privacy and security challenges. The insurer needed to find the right fit-for-purpose platform that could deliver the performance required to complete the move of data-heavy applications.

 

How Kyndryl helped
Kyndryl led the infrastructure design and delivery of a private cloud solution on a managed Oracle RAC database with the custom configurations needed to support the insurer's robust Guidewire implementation. The fit-for-purpose cloud solution incorporated data security and processing capabilities with as-a-service subscription pricing that was unmatched by other cloud providers. As part of Kyndryl's continued management of the platform, they provided significant security and performance tuning to compliment the insurer's internal team.

 

Outcomes achieved

  • Increased agility enables insurer to bring new products and services to their customers faster
  • Automation provided in the cloud has improved security and performance, while lowering costs
  • Provides the highest level of reliability and resiliency to ensure continued availability for the Insurer's mission critical applications

Ensure trust, security and resiliency

Mitigate the business impact of unexpected events with fast, reliable, and scalable recovery across hybrid multi-cloud environments.

Kyndryl can help you:
  • Implement fast, reliable, and scalable recovery across hybrid multi-cloud environments that minimizes 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