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Strategic Consulting and Digitalization Solutions for the Insurance Industry

Turning Challenges into Opportunities

The insurance industry can look back on a long and successful tradition. A quick summary: The insurance industry was born in the years after 1666. A devastating blaze destroyed four-fifths of the City of London and left more than 100,000 residents homeless. Fortunately, the disaster cost the lives of only a few people, but the damage reached astronomical heights. As a result, people wanted to protect themselves against damage. The first fire insurance companies, such as the Feuerkasse Hamburg, were founded at this time.

The challenges facing the insurance industry were the same then as they are today, but the conditions have changed. Modern digitalization technologies open up huge opportunities. They provide more accurate insights, more reliable risk calculations, greater transparency in decision-making, and they enable insurance companies to be more efficient and serve their customers faster and better.

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Early digitalization initiatives in Consulting have an even more helpful impact on internal processes. In particular, simple operational activities such as approval procedures, invoice verification, and the processing of appeals will be completed more quickly, with significant savings potential. At the top management level, decision-making processes are becoming more transparent. Based on current figures, the management knows at all times how they are currently “doing.”

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