Market conditions have forced large insurance firms towards mergers and acquisitions as a way of managing their margins and capital effectively. This practice, however, isn’t sustainable in the longer term, meaning insurers have to find a better, more efficient way of distributing and innovating new products to maintain market relevance.
Facing an increase in competition from new entrants who have no legacy books or systems to manage and can, therefore, be far more nimble in their approach, large insurers will have to embrace the value-generation opportunities of Agile Transformation and Digital Evolution in order to stay relevant in the market.
We initially engaged Endava for its system testing capabilities and are delighted that the relationship has developed through this agreement to also encompass elements of project management and development services. We look forward to working with Endava as we accelerate the delivery of our technology platform to support the product innovation and service excellence delivered by our underwriting and claims teams.
That have to adapt quickly to high-impact changes in their business model and are lacking the technical capability required to absorb change.
Whose efforts to position data analytics for product customisation are hindered by disparate data sources.
Struggling to work through a Digital Evolution or Agile Transformation without the support of a delivery partner with an in-depth understanding of insurance and the capability to deliver high-quality outcomes.
Where pressure to address the Total Cost of Ownership of technology across the business contrasts with the efficiency enjoyed by new entrants with no legacy systems and better user tools.
Through a combination of industry knowledge, technical excellence and an innovative approach, we build a strong partnership with our customers investing experience, time and our reputation to deliver excellent outcomes across the whole insurance value chain.
Having a “benefits felt” mind-set, we involve teams across the organisation in the business transformation, leading to a faster and more effective adoption process, ultimately helping your business quickly respond to internal and external customer demands, and overcome the inertia of legacy systems.
Our end to end services means:
We strive to understand your business to develop and execute a digital and UX strategy that truly engages your customers.
You benefit from the insight of IT and industry experts who have typically worked within the Insurance industry for over 25 years and have the experience and tools to help transform your business.
You can begin leveraging analytics data to drive in-depth insight into risk profiling and customer behaviour, focusing on highly-competitive and targeted insurance products/campaigns.
Together, we lead your business’ transformation into a more Agile organisation across your entire infrastructure, application development, management, testing, and service desk capabilities.
Through a long-term strategic partnership, focused on value delivered right into your business, we enable a ‘continuous improvement’ engagement model focused on quality, productivity and innovation.
Dedicated to service excellence, we’ve formed a strong community of experts leading an internal practice focused on emerging technologies and applications in our current engagements. We regularly attend and speak at industry events and forums, as well as support the London Market TOM programme.
We’ve already delivered success for:
A major US-brokerage firm with the goal of migrating their legacy application estate into a new and supported environment, physically decommissioning legacy servers. Our strategy and implementation methodology have allowed our teams to not only meet the client’s goal but protect the business from disruption and rationalise support costs.
A leading London Market Insurer looking to optimise its testing processes and improve the quality of change into supported underwriting applications, increasing the speed of delivery of change. Using Endava automated testing tools and lean processes we have managed to transform their cycle time for change and significantly improve user satisfaction levels.
A major UK insurer needed an efficient process geared towards delivering new products to Brokers on an existing electronic trading platform. After reviewing both the digital strategy and the development processes, we identified not only improvements to the User Experience but also introduced and scaled Agile methodologies throughout the organisation.
With more cars on the road than ever, we don't just have to make sure drivers are safer and cars are more clever but that we enable flexible, real-time Insurance products.
