Challenges and opportunities of insurance industry under the new technology reform

Big data, cloud computing, mobile commerce ... More and more It Hot words in the website, newspapers, magazines and other media, the tide of IT technology change is the challenge or opportunity? It executives from several insurers gathered at the "China Insurance It Application Summit Forum", which was jointly organised by the business Value magazine on July 6.

How much impact does new technology have on the business? At the beginning of the discussion, Yang Hong, general manager of China Life Research and Development center, shared his views: technology itself is to serve the strategy, the impact of new technology on insurance business depends on the strategic positioning of the enterprise. China Life is intended to occupy a higher market share and become the world's best life insurance company, to focus on customers and sales staff, focus on the convenience of sales and risk control. In this way, from the customer service mode, the use of sales personnel tools and support, and so on, will have to change to keep up with the trend of the times.

Feng Junyong, Vice-manager of IT department of Lee Bao Insurance Co., Ltd., said: The technology update provides more ways for our business to be done, and the business model approach will be upgraded. It was unthinkable in the past that customers could understand the company's products, purchase, payment, and service processes through a mobile terminal. To secure customers with domestic personal products and small and medium-sized enterprises, big data processing, BI help them more accurate positioning of customers, through data analysis to identify potential customer needs, according to market models to develop mobile terminal business.

Li Yuqun, Assistant president of Jiang Tai Insurance Brokerage Co., also believes that new technology changes will bring new opportunities to the business, and we need to fully meet and embrace the latest technologies.

At the same time, new technology changes have posed a higher challenge to corporate CIOs. Zhong Ke Soft Technology Co., Ltd. Zhouchun concluded: "Limited investment, unlimited business requirements." The demands of the business sector are always inflated. It is important to design an effective IT strategy when it needs to meet the needs of the business while still being able to fulfill the requirements within the scope of executable capabilities.

In this respect, the Chinese life of Yang always put forward a two-point strategy. The 1th "Homeopathy" is to catch the company's most important thing, the 2nd "Something is not" is to pay attention to the integration of the overall demand, can not only technology can not only demand. The new technology is to achieve the goal, customer service, business model changes, company cost savings and risk control, technical only for the needs of services. Avoiding "demand only" requires the business and technology departments to be able to connect to requirements and evaluate them. The technical department can take the task of prioritizing tasks, and try to accomplish the most valuable new tasks.

Li Bao's Feng also said: CIOs need to be able to determine whether to use the new technology according to the current situation of the enterprise, and may even need to use more quantitative analysis, comprehensive long-term investment, maintenance costs and expected output, choose the right time to apply new technology.

In short, the change of new technology is a challenge for the insurance industry, but if applied properly, the new technology will become the business booster of insurance, so that once the "dare" to become a reality.

Challenges and opportunities of insurance industry under the new technology reform