P&C carriers are experiencing change on a more significant and rapid scale than ever before. To ensure these industry developments propel your company forward, Capco offers a great many capabilities, from core system consulting to digital strategy (including data science) along with business strategy consulting and target operating model development.
- Digital strategy
- Portfolio rationalization
- Agile training and coaching
Core System Transformation Advisor
- Core system transformation
Insurers want to take advantage of the cloud-based SaaS models that industry leading software solution providers are moving towards. These models offer potentially significant cost savings whilst also maintaining the currency of the core systems. So, how do you get started? You need a transformation advisor to guide the way. Capco can get you started on your journey by developing business architectures, technology architectures, business cases, target operating models, data migration strategies, and delivery plans and road maps. We can also conduct insurance product rationalization exercises and vendor sourcing evaluations as those needs arise.
- Core system transformation for SMBs
With emerging cloud-based core systems, small to medium sized businesses can get policy, billing, and claims transformation at a more reasonable price point with significantly reduced timelines. At Capco, we’re focused on these types of projects and given our extensive core system experience, we are uniquely qualified to help you modernize your core systems and enable further digital enhancements. Our approach is to work closely with system vendors to help you understand what you’re getting and to ensure a smooth project.
Digital Insurance Implementation Consulting
- Digital Centers of Excellence (CoE)
- Defining Digital
- Artificial intelligence and machine learning
- Customer experience (CX)
- Robotic process automation (RPA)
- Data science
- RPA implementation services
- Digital assistants - chatbots
- AI / ML data mapper
- Digital hub
- Cybersecurity and resiliency services
- Financial srimes
Compliance and Risk Management
The regulatory environment is increasingly complex and always changing. As the industry knows, failure to maintain compliance carries stiff financial and reputational consequences.
Capco consulting can help you assess your risk, develop a comprehensive compliance management system (CMS), establish customized policies and procedures, educate your staff, monitor and test for ongoing compliance, remediate apparent violations of law and other compliance weaknesses, generate useful management reports, and successfully prepare for and respond to regulatory examinations.
Process Digitization - Blockworkx
In a competitive, changing business environment, insurance companies gain competitive advantage and reduce costs by transforming their business processes. At Capco we can optimize these with a proven methodology and an enterprise-wide digitization solution called Blockworkx.
Blockworkx uses pre-built and tested patterns that enable efficient, agile business processes to be rapidly stood up and evolve with your business needs. Our solution enables organizations to leverage a suite of functionality to improve process efficiency, continually improve processes, rapidly modify processes to respond to changing business needs, and integrate new digital capabilities.
Reach out to email@example.com to learn how we can help you transform your P&C business.
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The attitude to cyber insurance is changing. Now seen as a core element of mainstream business risk management, the global cyber insurance market is projected to triple and reach $7.5 billion by the end of the decade. These levels of growth present insurers with massive opportunities - however, cyber insurers are waking up to a tough reality.