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We’ve Gone Fully Digital In these exciting, fast- and ever-changing times, the insurance industry has evolved beyond the information technology era and entered the age of digital innovation, or digitalization – the methods and processes to initiate, manage and complete…
A Final Word on PoPI in South Africa…
This is our final blog post of the series on the Protection of Personal Information (PoPI) Act and how it will affect insurers. PoPI’s arrival is going to bring a significant level of protection to individuals and organisations in South…
Two Choices for PoPI Compliance in South Africa for Insurers
Despite the headaches that the Protection of Personal Information (PoPI) Act will undoubtedly create in South Africa, there are some potential benefits. Many insurers have a significant number of long-term policyholders who have been largely forgotten, especially considering that insurers…
Additional PoPI Challenges for Insurers in South Africa
Our last blog post detailed serious challenges associated with the Protection of Personal Information (PoPI) Act compliance. This post explains some additional issues: Avoiding ‘Regulatory Paradox’ PoPI clearly requires insurers to reduce the nature and volume of personal information they…
The PoPI Legacy System Headache in South Africa
Compliance with the Protection of Personal Information (PoPI) Act is not simply a nice-to-have for South African insurers – it’s an absolute must! The potential of large fines and resultant bad publicity for those who are non-compliant could badly damage…
Is the Cloud Complicating PoPI Compliance in South Africa?
The insurance environment in South Africa is changing rapidly, driven by increasing regulation, competitive pressures and the development of new, innovative technologies. The Internet of Things (IoT), Big Data, Bring Your Own Device (BYOD) and similar disruptive technologies have created…
5 Characteristics of a Good Pre-Integrated Digital Suite
The previous blog post in this series established the importance of a pre-integrated digital suite, but how do insurers know which one to choose? The following brief checklist can help. Insurers should seek: A strong, flexible base system – with…
Problems with a “Best of Breed” Software Approach
A best of breed approach offers some advantages for insurers. The ability to obtain the leading systems for different services can, of course, be tantalizing and imply leadership. Best of breed is a potentially viable strategy that requires extensive resources,…
Insurers’ Digital Readiness Needs Improvement
A relatively recent survey of CIOs and IT architects at leading, global insurance companies by The Boston Consulting Group painted a somewhat disappointing picture of insurers’ overall digital readiness and their consequent ability to facilitate relevant customer engagement. Only 36%…
3 Ways U.S. Insurers Can Prepare for President Trump
With President-elect Donald Trump’s inauguration quickly approaching, U.S. health insurers are increasingly wondering how they should prepare for what comes next. During Trump’s campaign, he frequently promised to repeal The Patient Protection and Affordable Care Act (commonly called the “Affordable Care Act”…
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