Outside In: Iterate to Innovate
New technology is often implemented by large companies to solve specific problems. Once the initial purpose has been achieved, the technology becomes part of the business as usual or “BAU” infrastructure. But instead of relegating a new functionality to the “new normal” category, it is useful to consider it as a catalyst for change – both in external, customer facing projects and in internal, IT development planning. Skandia, Sweden’s largest insurance company, implemented OutRank to offer customers a superior tool to better understand their pensions and investments. Working together with the Kidbrooke team, the Skandia executives saw the positive impact that a user-friendly customer interface had on sales as well as customer retention.
Digital Wealth Propositions: Achieving Strategic Flexibility
Once your team decides on building a new digital service or feature, it is always a good idea to avoid chasing short-term gains and think strategically. It is likely that after a successful pilot, you would like to tailor the functionality to suit customers' feedback. Furthermore, after a while, you might wish to expand your business to a different country and ensure that its digital core is compatible with local regulations, tax regimes and account structures on an ongoing basis. Finally, as you navigate your roadmap, you might want to complement your services with new use cases and expand your customer base. All these strategies require tremendous flexibility of the technology driving your digital and hybrid financial journeys. Today we examine the key technological factors ensuring the flexibility of digital financial services.
Level-up Your Insurance Customers' Engagement by Leveraging Seamless Finance
One challenge faced by insurance salespeople is the inability to activate millions of sometimes dormant customer accounts because they lack the tools to engage with customers. Companies can now quickly onboard new tools, often provided as APIs, to enhance customer engagement. Hosting a calculation tool that allows customers to see their financial position in a simple, realistic, granular and holistic manner provides two distinct advantages: to attract new customers and retain existing customers to your franchise.
Enterprise Cloud Native: Reaching for the Stars or Pie in the Sky?
Modern cloud computing, which in absolute timespan is still very young, has become a pretty much ubiquitous facet in our lives. Most of us now store a majority of our personal data on numerable cloud servers operated by huge companies who are now household brands. Any remaining confusion in nomenclature and etymology doesn’t reside with the young. For those of us old enough to remember floppy disks, we can still get confused by terminology. Here we look into the history and future of cloud computing.