Despite increasing investment in cloud infrastructure, artificial intelligence (AI) and digital transformation, insurers continue to struggle to turn technological advances into faster business decisions.

At a recent Insurtech Insights webinar on building the agile insurance enterprise, Earnix vice president of global solutions Drew Lawyer joined Bupa head of strategy Roddy Barnes and Prudential engineering leader Rohan Rayarikar to discuss why greater agility requires more than new technology.

For Earnix, the discussion reflects a fundamental challenge facing the insurance industry: connecting data, systems and workflows to improve decisions across pricing, underwriting and customer engagement. Although insurers are investing heavily in digital capabilities, the real value lies in translating those investments into better risk assessment, stronger margins and improved customer outcomes.

Rayarikar argued that the sector’s central problem is not a shortage of technology, but an inability to make decisions efficiently across complex operations. Historically, technology has often been introduced as a standalone capability rather than integrated into the processes that shape customer experiences.

Prudential’s Rayarikar described the traditional approach as, “here is a system, here is technology that can help your life.” He advocated a more connected model in which customer context follows the entire journey, from initial engagement through underwriting and pricing. This would reduce the need for customers and advisers to repeatedly provide information as they move between different systems and stages.

The challenge becomes more pronounced at scale. Prudential’s field force comprises more than 90,000 financial professionals, making it difficult to ensure every adviser has access to the right information when a decision is required.

Source link