Technology will make us faster and smarter
With its fondness for traditional methods of working, the insurance industry has viewed the implementation of new technology with more suspicion than most. Tim Rankin feels it should embrace any possible advance to have a hope of protecting its increasingly squeezed margins
No-one can deny that Financial Services Authority (FSA) regulation is transforming our industry. Compliance with FSA rules is forcing up costs, making demands on higher service levels and accelerating technological transformation.
It is no longer acceptable for brokers to work manually or to use old and inefficient systems. They now need to invest in a single IT platform in order to ensure that client information is readily to hand, particularly where complaints are concerned.
The insurance
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