Business Innovation in the Post-Crisis Era

di Bernardo Nicoletti

In the unsettled atmosphere of the post-financial crisis years, insurance firms are forced to cope with changing market dynamics and socioeconomic factors, while at the same time attempting to increase revenue and reduce costs. Firms will need to adapt quickly to the changing environment and embrace innovative methods to remain competitive. However, insurance companies have traditionally taken a
cautious approach to innovation.

This book explores the ways in which the adoption of new paradigms, processes, and technologies can lead to greater revenue, cost efficiency and control, as well as improved business agility in the insurance industry. The author argues that insurance companies should actively embrace digital insurance to make processes and services lean, automated and multi-channeled. Indeed, they will soon be forced to, as the industry is experiencing growing participation from new organizations such as banks, telecommunication organizations and merchants. In this book, the author explores topics ranging from the management of digital insurance, basic systems and advanced solutions, governance, the regulatory framework and digital insurance throughout the world.

This book demonstrates how digital Insurance has the ability to transform the insurance industry and its relationship with its customers, and suggests that it will need to move quickly to avoid losing the market altogether.

Bernardo Nicoletti graduated from the Polytechnic School of Turin, Italy and has an MSEE from Carnegie Mellon University, Pittsburgh, PA, USA. He worked for GE Capital, as Group CTO, and AIG, with assignments in Italy, UK, USA and Argentina. Currently he is a professor of ICT Procurement at the University of
TorVergata, Rome, Italy and provides consultancy in Europe and Asia on IT strategy, organization and procurement. In all his positions, Bernardo has been particularly active in the application of Lean Six Sigma to financial institutions. He calls his approach “Lean & Digitize” and over time has developed a specific methodology as a way to reduce costs and improve quality, bringing value to the customer and to the business. He is the author of over 20 books on management, published in both Italy and the UK. He has been a frequent speaker at international conferences and has published over 200 articles in domestic and
international journals.