A new
Deloitte report has reiterated the need for traditional insurance companies to embrace technology and innovation, outlining the new technology trends that will disrupt businesses in the next 18-24 months.
Kevin Russo, Deloitte lead partner for the technology, strategy, and architecture practice in Australia and the Asia-Pacific region, said CIOs who harness the possibilities of tech trends “will be able to shape the future of their businesses.”
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“As CIOs manage constant technological advances and the exponential pace of change, they need vision as well as dexterity to offload the weight of operational inertia,” Russo said. “Open standards, cloud-first designs, clever platforms, and loosely coupled architectures are the norm for start-ups. And are increasingly becoming the answer for CIOs who think longer term about the technology stacks that will drive revenue and enable strategy.”
The Australian cut of Deloitte's eighth annual technology report, “Tech Trends 2017: The Kinetic Enterprise,” featured insights from Australian CIOs and businesses that “are using cloud-first strategies and systems that are loosely coupled and automated to be self-learning and self-healing” to make their organisations kinetic and relevant.
Deloitte said the study echoes a previous World Economic/Deloitte report, which found that a combination of the imminent open data regime, broader cloud play, and platforms that allow clients to engage with different financial institutions from a single channel, will transform not only the competitive landscape but also the basis of competition in the financial services sector.
“Using cloud-first strategies means companies like QIC can provide and develop a recovery plan and start-up environment in hours, for activities that previously would have taken weeks or even months to implement,” said Steve Rayment, Deloitte consulting partner and report co-author. “‘Virtualised’ cloud-first models enable a 'speed first, then efficiency' approach with access anywhere, anytime, anyhow. They also can be deployed in a way that delivers workloads at both optimum price and performance, so the business can stop just managing instances and start managing outcomes.”
The kinetic organisations featured in the Deloitte report were Toll, RMIT, GE, Domain.com.au, QIC, the Department of Industry, and QUT. Click
here to access the Australian cut of the 2017 Tech Trends report.
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