November 22, 2022 – While technological advances in policy administration systems, underwriting workbenches, actuarial models, and claims systems are critical to operational efficiencies and risk management, it is people who are at the heart of this industry. Human-centered design methodology provides the life insurance industry the ability to solve the complex challenges faced by crucial yet vastly different customers—audiences such as distribution channels, the insured, underwriters, service representatives, and, of course, beneficiaries, just to name a few.
This Impact Report discusses the challenges and opportunities in the three phases of human-centered design and how insurers can use this problem-solving methodology to tackle complex challenges. This report is sponsored by Sapiens, a global provider of innovative, core end-to-end software solutions and business decision management software for the general, property and casualty, life, pension, and annuities insurance markets. It is based on Aite-Novarica Group’s domain expertise and knowledge base, along with secondary research and briefings with industry executives and academia.
Clients of Aite-Novarica Group’s Life, Annuities, & Benefits service can download this report and the corresponding charts.