Srikanth Srinivasan

This point of view will explore five major imperatives that must be executed in order for life insurers and wealth management companies to take a leadership position across the Sales to Issue process in the 21st century.

Customer expectations and demands are far higher than ever before, while new customer segments are gaining importance. Couple these customer changes with a highly competitive landscape and carriers are facing impressive product & service offering challenges. Traditional… Show more

This point of view will explore five major imperatives that must be executed in order for life insurers and wealth management companies to take a leadership position across the Sales to Issue process in the 21st century.

Customer expectations and demands are far higher than ever before, while new customer segments are gaining importance. Couple these customer changes with a highly competitive landscape and carriers are facing impressive product & service offering challenges. Traditional distribution channels must be redefined while the digital channels need to be exploited - the latter being the preferred channel preference for the emerging mainstream generation (Gen Y). Regulatory changes across the financial sector, healthcare and consumer protection are still evolving and will have implications on how companies interact with prospects and customers, deal with information etc. And finally, this confluence of rapid change puts ever increasing pressure on the overall operations supporting the Sales to Issue area. Securing a leadership position demands operational excellence and agility through continuous improvement.
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Currently, sales and marketing teams in pharma companies are often product-focused and work largely in brand, geographical and customer segment silos. This means that customer-facing teams — field sales, brand management, and medical affairs — interact with customers separately from other teams without adequate communication or co-ordination, and therefore pharma companies do not present a unified face and value proposition to their customers.

The insurance industry is rife with legacy systems - native or package applications running on decades-old technology. The burdens imposed by these antiquated systems include high operational costs, inflexibility, hard-to-find technology support
skills, and difficulty of integration with newer systems.

This paper describes Infosys’ perspective on how modernization of legacy systems
can drive significant transformation and create competitive advantage for Insurance
companies. It… Show more

The insurance industry is rife with legacy systems - native or package applications running on decades-old technology. The burdens imposed by these antiquated systems include high operational costs, inflexibility, hard-to-find technology support
skills, and difficulty of integration with newer systems.

This paper describes Infosys’ perspective on how modernization of legacy systems
can drive significant transformation and create competitive advantage for Insurance
companies. It also provides a snapshot of Infosys’ Insurance
Modernization solution and its comprehensive set of business and
technology components to enable faster, better and cost-effective
modernization. Show less

Insurance is increasingly barraged by a variety of disruptive forces, including maturation of core products, "unfunded life expectancy", emerging catastrophic and terrorism risks, demanding customers and "legacy" business processes and systems that do not respond quickly to business needs.

The articles and points of view contained in this special edition address these areas of change including
- Rapid innovation in product and services deployment
- Development of analytical… Show more

Insurance is increasingly barraged by a variety of disruptive forces, including maturation of core products, "unfunded life expectancy", emerging catastrophic and terrorism risks, demanding customers and "legacy" business processes and systems that do not respond quickly to business needs.

The articles and points of view contained in this special edition address these areas of change including
- Rapid innovation in product and services deployment
- Development of analytical insights from vast volumes of data
- Build adaptability into the business model
Also, an insightful discussion between Bob Kowalsky, VP of Technology Services at Northwestern Mutual and Srikanth Srinivasan, Head of Infosys Insurance consulting practice

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