How does an insurer stay relevant as the demands of customers evolve? By becoming a NEOINSURER®.
Traditional insurance, delivered traditionally, faces more and more decreasing customer relevance. Customers these days demand simple, lifestyle-oriented products and lean processes. To cope with this shift in demand, insurers must transform their traditional operations. Success will come to those that manage to couple their core value chain activities to customer journeys, select appropriate ecosystem partners, and leverage the new technological abilities of Open Insurance.
Insurers must embed their tailor-made offerings at the point of risk creation, which is where and when customers are most likely to buy. To help them master the transition from a traditional insurer to a NEOINSURER®, Synpulse has developed the business model NEOINSURANCE®.
Making the transformation from a traditional insurer to a NEOINSURER® prerequisites the development of a feasible operating model which is dependent on the selection of the strategic target role an NEOINSURER® aims to play in a specific ecosystem and line of business. When planning an NEOINSURER’s® future, it’s therefore crucial to be clear about its current and target position, and then work out the right transformation path to bridge the gap.
Synpulse’s NEOINSURANCEINABOX® model brings together our suite of best-practice assets, tools, and methods enabling us to provide a structured approach to managing and accelerating digital transformations. It consists of modular components that can be flexibly tailored and deployed to each insurer’s individual transformation needs.
NEOINSURANCEINABOX® is comprehensive toolset, covering all aspects of the transition into a NEOINSURER®, including:
NEOINSURANCEINABOX® jump-starts the next steps on an insurer’ digital transformation and innovation agenda. It measurably improves an insurer’s operational excellence by aligning any digital transformation initiative to market dynamics and shifts in customer demand, and by seizing new opportunities and innovation potential by reacting to the needs of the open, ecosystem-driven world in shorter reaction cycles than ever before.
The NEOINSURANCEINABOX® suite continually evolves with the latest insights and thought leadership from our NEOINSURANCE® Innovation Center and worldwide expert network, offering holistic, multi-dimensional digital transformation support across all domains and lines of business.
Synpulse’s NEOINSURANCE® suite is empowered by Synpulse8, our tech powerhouse for technology advisory and delivery excellence, providing connectivity, integration, NextGen Insurtech partnerships, software products, managed platforms, and services supporting ecosystem-driven insurance value chains. Synpulse8 enables a seamless transition from concept and design to delivery and managed services leveraging the latest technologies and trends from the Open Insurance practice.
NEOINSURANCEINABOX® facilitates the successful delivery of any digital transformation initiative, ensuring that you get quality, target-oriented, and cost-efficient outcomes. Our experts will help you accelerate your readiness with the practice-proven assets, methods, and deliverables outlined earlier in this article.
Contact us now to benefit from Synpulse’s NEOINSURANCE® expertise embodied in the NEOINSURANCEINABOX® suite.