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Financial Services and Insurance Back

Insurance

Spark the extraordinary advantages of digitalized insurance.

 

The insurance industry is undergoing a digital revolution. Some of the many challenges reshaping the industry include complex underwriting, inefficient claims processing and growing demand for personalized services.

 

It’s time to transform your biggest challenges into your competitive advantage. We support you in adopting emerging technologies, like cloud-native architectures and GenAI, seamlessly integrating partner providers into your ecosystem, empowering advisors and other intermediaries, enhancing the claims experience, and keeping your customers at the center of innovation. By digitizing the insurance value chain, together we can enhance operational efficiency, improve customer and employee experience, and ensure your insurance business prospers in a data-driven, digital world.

 

Insurance

Spark the extraordinary advantages of digitalized insurance.

 

The insurance industry is undergoing a digital revolution. Some of the many challenges reshaping the industry include complex underwriting, inefficient claims processing and growing demand for personalized services.

 

It’s time to transform your biggest challenges into your competitive advantage. We support you in adopting emerging technologies, like cloud-native architectures and GenAI, seamlessly integrating partner providers into your ecosystem, empowering advisors and other intermediaries, enhancing the claims experience, and keeping your customers at the center of innovation. By digitizing the insurance value chain, together we can enhance operational efficiency, improve customer and employee experience, and ensure your insurance business prospers in a data-driven, digital world.

 

Two thoughtworks employee dressed in formal attire, discussing in lounge
Two thoughtworks employee dressed in formal attire, discussing in lounge

Why data will define value for insurers - and how to harness its full potential for success

Data is now a critical asset for insurers, driving personalized experiences and competitive advantage. Discover how modernizing data strategies can help insurers stay competitive and deliver exceptional customer value.

Read this article
Two women discussing

Omnichannel engagement platforms


Boost customer loyalty with omnichannel platforms

 

We help you to build seamless omnichannel engagement platforms across the entire insurance value-chain. Empower your customers with simplified applications, easy access to information, simple claims submission, and timely notifications. This approach leverages Data Mesh principles such as decentralised data ownership, enabling more efficient access to insights, better decision-making across the organization, and enhanced operational efficiency—helping you stay competitive while making life easier for your customers.

Seamless customer engagement across physical and digital channels

Flow chart showing an arrow moving through product design, marketing, sales, new business and underwriting, policy service/management and claims
Flow chart showing an arrow moving through product design, marketing, sales, new business and underwriting, policy service/management and claims

Virtual office platform

Differentiated user experience 

AI-based personalization engine

Digital underwriting

Automated business rule engine (BRE) 

Chatbots and virtual assistants 

Digital claims management 

Policy servicing “First Time Right” (FTR)

Omnichannel analytics

Unified data platform

Two women discussing

Operational transformation


Enhance efficiency with operational transformation
 

With our support, you can modernize legacy systems and digital insurance platforms to increase ROI with integrations across the whole insurance value chain. Partner with us to facilitate faster claims processing, streamline workflows, ensure compliance with audit trails, and integrate third-party services. We help you adopt AI automation to enhance customer service across the claims lifecycle for a better customer experience.

Streamlining insurance operations

Flow chart showing an arrow moving through new business and underwriting, policy service/management and claims
Flow chart showing an arrow moving through new business and underwriting, policy service/management and claims

Open insurance framework

Unified customer communication

Legacy modernization

Embedded insurance

Predictive analytics

Back office transformation 

Claims automation and straight-through processing (STP)

Policy Servicing “First Time Right” (FTR)

Process transparency virtual office

Employee talent and skill enablement

Two women discussing

Distribution empowerment 


Meet customer needs with distribution empowerment 


Empower your advisors to focus on what really matters. We support you in building modern platforms that give your advisors the freedom to meet the changing needs of your customers, optimizing every touch point from marketing, through to sales and distribution. By adopting a human-centered approach, we enable your advisors’ roles to evolve, enhancing efficiency and improving the customer experience.

 

Streamlining insurance distribution

Flow chart showing an arrow moving through distribution in the insurance cycle.
Flow chart showing an arrow moving through distribution in the insurance cycle.

Expedited partners’ onboarding - virtual office

Product customization 

Personalized recommendations 

Sales and partners’ support 

Lead management

Partners’ training and development

Performance monitoring

Rewards and compensation

Chatbots and virtual assistants

Role-based partner access

Success stories

If you stand back and you think about what we have achieved over that period of time, it's jaw dropping. We have mobilized one of the nation's most traditional, historical businesses. We have created an extraordinary amount of capacity to deliver in a lean and agile way, and I have to thank Thoughtworks for that.
Peter Harmer
Former CEO, IAG
Read this client story

Our trusted partners

We take a customer-centric approach to everything we do, including our partnerships. We work with selected partners to deliver a variety of solutions to meet our customers’ needs and aspirations. Combining global reach with a local touch, we leverage our network of trusted partners to accelerate the scale, speed and outcomes we deliver for our insurance clients.
Find out more

Step into the digital future of insurance

Get in touch

Thoughtworks acknowledges the Traditional Owners of the land where we work and live, and their continued connection to Country. We pay our respects to Elders past and present. Aboriginal and Torres Strait Islander peoples were the world's first scientists, technologists, engineers and mathematicians. We celebrate the stories, culture and traditions of Aboriginal and Torres Strait Islander Elders of all communities who also work and live on this land. 

 

As a company, we invite Thoughtworkers to be actively engaged in advancing reconciliation and strengthen their solidarity with the First Peoples of Australia. Since 2019, we have been working with Reconciliation Australia to formalize our commitment and take meaningful action to advance reconciliation. We invite you to review our Reconciliation Action Plan.