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.
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Innovation and technological advancement have been at the heart of the Beazley Group since it was established in 1986. We have been working together with Beazley for over seven years, during which time we’ve developed many products, among them Beazley’s e-trading platform, reporting services and other applications. “More recently, we have been helping Beazley in their digital transformation journey and their agile transformation process,” explains Gabi Halasu, Endava’s Head of Applications Management. Discover how our partnership delivers lasting business value through teamwork and help Beazley through their digital journey.