Leveraging Technology to Compete in the Insurance Industry: 3 Keys to Success

02 Nov, 2022

One of the insurance industry trends identified for 2022 was an increase in the role of technology. Carriers are partnering with tech companies to embed technology for insurance, like data analytics and telematics, into policy programs and insurance offerings, and they’re using technology to streamline workflows, improve the customer experience, and inform their go-to-market strategies. But technology has always played an important role. From networks and databases to business applications, insurance companies depend on technology—but it has to be the right technology. Without it, there are consequences.

Such was the case with a multi-national, technology-fueled insurance platform with that empowers member MGUs to more effectively serve commercial enterprises. The firm initially approached Microsoft about finding a global partner to help them with their CRM and HR technology needs.

Microsoft directed them to HSO.

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Then things changed

We began working on a plan for HR and CRM solutions, but it wasn’t long before what we expected to do suddenly changed—and very significantly. As happens so often, especially during the years of the COVID pandemic, what was initially the need (CRM and HR technology) was put on the back burner because of Brexit. Suddenly, this UK-headquartered firm had to quickly move an Azure tenant from the UK to anywhere in the EU to avoid serious interruption to business in Europe.

Key to success #1: Applying technology based on industry need

Fortunately, HSO is experienced with Azure, Microsoft Dynamics, and Modern Workplace migrations, and we have had plenty of experience pivoting to meet a fast-changing world landscape, so we were ready to take on the challenge.

The resulting migration, which was completed in time to prevent interruption and major complications due to Brexit, was just the beginning of an ongoing relationship centered around applying technology thoughtfully to address the needs of a rapidly growing and evolving industry. Since the Azure migration, HSO has worked with this firm on additional Azure projects, as well as reporting and analytics using Microsoft Power BI.

Key to success #2: Finding the right partner

We’ve been doing this long enough to confidently say that the technology, while critical, is only half the solution. The other half is a partner that not only understands the technology being used, but understands the industry and its challenges, listens to the client to really understand their needs, and simply being a proactive, respectful, dependable partner.

In the case of this firm, we proved each time that we could tackle an issue, deliver a quality solution, and do so even within a tight timeframe brought on by Brexit. The result was a trusted relationship that continues to be strengthened. When the firm was ready to go back to the original CRM/HR engagement, they knew that HSO needed to be in the mix.

Key to success #3: Building a strategic technology relationship

As with just about every industry today, the insurance industry understands that technology can either hold you back or set you apart from increasingly fierce competition. Far from an afterthought or a supporting player, technology is a strategic differentiator and deserves a seat at the table—and a supporting partner that doesn’t just install servers and implement software.

With that in mind, the firm selected HSO as their global managed services provider—establishing a relationship with us as their strategic technology advisor. Together, we can look for opportunities to capitalize on technology as the firm grows, as markets change, and as technology evolves.

Why HSO for Managed Services & Application Management?

MarketWatch anticipates the Global Application Management Services market will grow 22+ percent through 2025. Companies today want ready-made solutions and mobile apps that support modernizing the organization.

Your Application Management provider should be a proactive, strategic advisor that help you get more value from your IT investments. For more than two decades, we’ve been helping companies maximize their IT systems. Learn more about HSO's Application Management and Support services, and contact us for a free, Big Brain Session to see how we can take your organization to the next level.

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