3 Main Challenges Facing Insurance Companies

Challenges Facing Insurance Boards of Directors, and Their Digital Solutions

Forward-looking insurance company boards are seizing the competitive advantage the digital transformation offers. Rapid changes across the industry—including a proposal for a new model law from the CGWG, for the yearly collection of insurers’ corporate governance processes—have accelerated the need for insurance companies to update their current governance structure.

In This Guide:

Inefficient processes

Traditional board management processes and legacy software can’t keep up with the evolving industry.

Technological debt

Outdated systems lack flexibility and are a constant drain on financial resources.

Cybersecurity

Insurance company’s access to peoples’ sensitive information makes them frequent targets of cyber-attack.

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