During the InsurTech Insights USA event in New York, our CEO, Dave Connors, was interviewed by Fintech Finance. Dave shared his valuable insights on the industry's changing dynamics and the need for enhanced efficiency in the middle and back office operations.
According to Dave, there has traditionally been a strong emphasis on distribution and sales, aiming to write more policies and increase premium income. However, he highlighted that the industry is now recognizing the limitations of this approach. Issues such as poor data quality and inefficient processes in the middle and back office can create delays in premium processing and lead to inadequate risk data.
Our company is focused on providing a Digital Data Exchange platform that automates back-office processes and facilitates seamless data flow across the insurance value chain. “We’re looking to become the default tool for insurance data exchange for getting data through the value chain.”
By shifting the industry's focus to optimising middle and back-office functions, insurers can overcome obstacles and leverage accurate data to drive better performance. Dave's insights during the interview shed light on the evolving landscape of the insurance industry and underscore the significance of embracing transformative technologies to achieve positive outcomes.
If you want to see the whole interview, click the video below or follow the link here.