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Digital Transformation of the Insurance Industry

IBM iX helps insurance companies to digitise their business models, underwriting processes, and distribution channels, adapting to the growing customer demands.

Policyholders seek expert advice and, at the same time, desire a seamless and intuitive customer journey in their digital interaction with the insurer.

Our services for the industry
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New technologies for the insurance
industry of the future

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Time for Digitisation

The insurance industry is undergoing a restructuring process: while insurers traditionally sold insurance coverage, today they must focus on caring for policyholders and meeting their expectations of modern digital offerings.

Intelligent technologies are at the forefront, supporting the modernisation of digital experiences and flexible workflows. At the same time, a secure handling of sensitive policyholder data must be ensured, in compliance with all regulatory requirements.

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Rethinking Customer Experience

The customer experience in the insurance industry has gained new momentum, not least due to the pandemic. Policyholders expect tailored offerings, allowing insurance companies to differentiate from the competition and establish themselves as strong partners.

To build personal connections and strengthen customers’ trust, processes, technology, and the digital culture of the industry must now be redesigned.

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Ecosystems and Collaborations

Digital technologies help the insurance industry to successfully develop ecosystems or position themselves in other companies’ ecosystems – the keyword being “Embedded Insurance.” The focus is increasingly shifting to insurance-unrelated services outside the core business to generate new customer touchpoints for insurers.

In the past, contact with policyholders at many insurance companies was limited to the one-time conclusion of the contract and subsequent claims settlement. Today, smart data management provides the opportunity to initiate new touchpoints and support policyholders as partners in all life situations.

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Data Analytics and AI

Handling risks is the core of every business model in the insurance industry – whether it’s the risks of policyholders or invested capital. The better insurance companies can calculate these risks, the more profitable they can operate.

This goes hand in hand with the demand to continuously advance the performance of their risk calculation models using data analytics and artificial intelligence (AI). Technologies such as AI are playing an increasingly important role in this regard.

Our offerings for a smart
insurance industry

Holistic Omnichannel Communication

Together with our industry experts, we develop a customer experience strategy to steer or further develop communication across all relevant platforms and channels. We rely on brand strategic concepts, individual business and service models, as well as KPI-based marketing and channel strategies.

Convincing User Guidance through Experience Design Strategy

Only a convincing, intuitive user experience makes companies competitive. We support the creation of appealing interaction experiences that truly inspire policyholders and prospective policyholders, turning customers into fans.

Customer Data Platform (CDP)

Do you want to provide your sales staff with a single customer view with all touchpoints available? With a Customer Data Platform, data can be linked and activated, whether it is already available internally or can be further enriched. We support you in breaking down data silos and building such a platform that allows for valuable customer-centric targeting and analysis.

Insurance products for the digital age

With our industry experts and creatives, we make the relevant information easily understandable for insurance prospects and build trust. The customer experience begins well before the front- and backend, starting with the development of digital products. We accompany you from prototyping and MVP to the conceptualisation of go-to-market strategies.

Finding the right technology solution

With our years of experience working with leading technology providers of Digital Experience Platforms (DXP) and sales, CRM, and commerce software, we advise you on selecting the right solution to advance your insurance offerings in digital transformation.

 

IBM iX has been awarded multiple times for the BARMER Mobile Experience, including the German Digital Award and the prestigious Red Dot Design Award.

Learn more about the project here

 

Illustration with two smartphones showing the BARMER app with red dot winner logo 2022

The transformation of digital BARMER health services

Entering new dimensions of the digital experience with IBM iX

Excellent digital services are an important differentiator in the insurance industry and are increasingly becoming a strategic priority. IBM iX guides insurance companies in the digitalisation of their business models, closing processes and sales channels in order to meet growing customer demands. With decades of experience of our insurance experts,  we enable sustainable success and accompany you on your path to digital transformation – from consulting and strategy to design, technical implementation and continuous optimisation. For the insurance of tomorrow.

 

Additional links and information

IBM Insurance

Shared success stories in the insurance sector

Illustration with two smartphones showing the BARMER app

BARMER Digital Health Experience Transformation

Learn more
Infographic with images from the Baloise website

New Baloise brand identity - IBM iX implements Digital Experience Platform

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Laptop auf dem die neue DRV Reha-Website geöffnet ist.

New website for DRV Rehab Clinics

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Further insights into the Insurance Industry

Bild während der Podcastaufnahme

Digital Insurance Podcast – Smarte Technologien für bessere Customer Experience

Learn more
Infographic with images from the Baloise website

New Baloise brand identity - IBM iX implements Digital Experience Platform

Learn more
Eine Frau und ein Mann sitzen am Tisch und schauen auf ein Dokument

Digital health insurance - how user-centricity doesn’t become an innovation trap

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Barmer App Illustration with the Red Dot Winner Logo, Thumbnail

Red Dot Design Award for BARMER

Learn more

Ready to transform
your business?

We have decades of experience in the insurance industry. Speak to our experts.

Christian Witt
Director Insurance Digital Strategy, IBM iX Berlin
+49 1704962952
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Thomas Kaindl
Chief Customer Officer Consumer, IBM iX DACH
+43 7242 71000 707
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IBM iX

The Experience Agency
of IBM Consulting

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