What are the top three challenges facing insurers?

security

Security and regulations

Ponemon reports the average cost of a data breach is up to $3.86M per event.(1)

service

Personalization

47% of insurance customers surveyed by IBV expect personalized and tailored services.(2)

data

Competition

46% of insurance customers surveyed by IBV report unexpected and new competition.(3)


Tackle these challenges with the right IT infrastructure

Secure your data

The risk of a data breach looms large for insurers. Encryption is the solution: of the nearly fifteen billion data records lost or stolen since 2013, only 4% were encrypted.(4) Pervasive encryption on the IBM z14 mainframe encrypts 100% of application, cloud service and database data without impacting operations. This innovation helps build consumer trust, lower the risk of cyberattacks and reduce compliance costs.

Leverage your data

Over 30 billion transactions a day are supported on the mainframe platform. What if insurers applied machine learning to that data in real time? Imagine the insights and personalized services you could deliver. Analyzing data in place, without any impact on performance, can eliminate as much as $10 million in extract, transform and load costs.(5)

Innovate to compete

To compete, insurers must think like startups. The IBM Z connected platform offers a DevOps framework that accelerates application development by 25% while supporting billions of transactions a day with 99.999% availability.

Blockchain can do for transactions what the internet has done for information, and can transform ecosystems as industries converge. Transparency meets security with blockchain on the Z platform.

Hear from customers

US insurance company

We now have the flexibility to respond faster.
 –
Manager of Database and Application Development

Leading UK insurer

(IBM ADDI) “helps us improve the speed and quality of our development cycles.”
– Senior Director of Quality Assurance

HM Health Solutions

“Our strategy around data protection is one of the key differentiators.”

– Gary Dick, SVP, Information Technology

See how IBM Z can help insurers build trust, leverage data and innovate