Deloitte launches Insurance Growth Suite technology solutions

Today, the insurance industry is facing a unique challenge. Carriers are constantly tackling emerging issues and trends with limited time to react, leaving customers and brokers dissatisfied with their experience. Yet insurance companies who have invested time and money in technology solutions to solve those problems don’t necessarily reap the benefits. “Insurance companies have invested billions of dollars toward digital modernization, but their customers don’t see it. Most investments are internal, and many companies often struggle to convert them into a better business experience for agents, brokers, stakeholders, and customers,” says Subhasis Mukherjee, Insurance Growth Suite offering leader and Deloitte Consulting LLP managing director.

As the entire insurance industry starts to look forward and drive innovation, they should consider future-proofing their investments to keep pace with emerging technologies—on top of emerging market trends. “The question is, how do you quickly leverage the power of these new technologies and make it part of your operating model? That’s where Insurance Growth Suite comes in,” says Mukherjee.

We are excited to announce the launch of Converge by Deloitte’s Insurance Growth Suite (IGS), a cloud-native platform that’s designed to help unlock the future of insurance.

Our pre-integrated, pre-configured insurance solutions accelerate implementation and blend into an organization’s tech stack, helping to reduce time to market, cost, and complexity when migrating to the cloud. “Say you have a reliable core system, but you want to increase your business capabilities and benefits with new technology solutions—Insurance Growth Suite can operate efficiently with your in-house system and extend its life inexpensively and quickly ,” adds Brian Van Daele, Insurance Growth Suite Go-to-Market leader and Deloitte Consulting LLP principal.

Insurance Growth Suite’s cost-effective approach to migrating and operating on the cloud offers flexibility to add or remove environments, access to product-agnostic APIs, and the ability to scale solutions. IGS solution capabilities include:

• Digital experience, delivered via ‘offerings’ across the insurance value chain.
• Insurance Fabric, a microservices-based cloud integration platform that pre-integrates core systems, data providers, and vendors.
• Common core + data, accelerating the implementation of insurance core systems.
• Cloud-native platform, positioning carriers to leverage a more reliable framework while simplifying their tech stack.
  

“We’re helping to solve problems with the future in mind. Our technology solutions can help the entire insurance industry shift from being reactive to proactive. Instead of responding to loss, how can we use technology to reduce incidents and prevent claims? We can go beyond the traditional insurance experience and use technology to make these advancements,” says Mukherjee.

On top of that, we’ve seen improved speed to market—a marked change from previous approaches. “Projects used to take 18+ months to bring to fruition, plus you didn’t know if it would work as expected and whether your investment was worth it. Now, timelines can be reduced to four to six months and the speed at which we can bring products to market is really exciting,” says Van Daele.

Whether you’re looking to increase retention, improve efficiency, drive profitability, or operate more flexibly, explore the many ways Converge by Deloitte’s Insurance Growth Suite can benefit your business. Learn more.

Converge by Deloitte is creating the next generation of AI- and cloud-enabled software that shapes and transforms entire industries. Our specialists are scientists, bankers, doctors, manufacturers, and engineers at heart. We combine our industry know-how with enterprise-quality software and a curated ecosystem of data and technology partners to create solutions that can accelerate business outcomes. At Converge, we understand transformation isn’t a one-time thing—it's a continuous journey, and it’s one we're proud to work/collaborate with you on.

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