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Findig 2020 summary

Now in its seventh year, Findig 2020 gathered leading technology companies and key people from the finance industry earlier this week to discuss what digital disruption means to them and how digitalization, innovation and transformation are changing their business models. As a leading supplier of Policy Administration Systems (PAS) in the Nordic region, Itello was there to outline the new era of accelerated digitalization in the pension industry; highlight market trends and show how digital transformation is reshaping the industry.

400 delegates and speakers from Itello, Gjensidige, Capgemini, Accenture and SpareBank1 among others, talked about future fintech, a digital pension industry, customer expectations, technology trends, security strategies for success, man vs. machines and much more.
We can all agree that we are part of one of the biggest changes the financial industry has ever experienced.
Customers expect new, smart solutions and at the same time the industry meets new players and new regulations. Robotics and artificial intelligence are making their entrance – and those who do not adapt quickly enough are in danger of being disrupted.

Henrik Allert, Vice President Industry and Product Strategy at Itello and keynote speaker at the event, shared his views on how new technology can be applied to drive digital transformation to promote both automation and increased customer value.

See Henriks presentation

Summary

  • A modern and future-proven core platform is the key for transformation enablement.
  • The future is data driven. Use the power of large data sets to be able to predict the future. By using technology and data capture, you can understand, predict and influence behavior.
  • Know your customers well. Establish extended dialogue with your customers to make sure that you meet their expectations.
  • Increasing competition, soaring costs for customer acquisition and consumers’ expectation of frictionless customer experiences - all put pressure on modern businesses. Winners in the digital race have something in common; they consider the whole customer journey from onboarding to self-service and understand the crucial role digital identity plays in getting this right.
  • The number of life insurance CIOs choosing off-premises hosted solutions or cloud-deployed solutions has grown substantially over prior years. Over 70 % of new deals closed in 2019 were either hosted solutions or cloud deployments. *
  • Know that customers expect simplification, smartness and control from digitalization. Today, customers have so many options, therefore, they choose the same products or services as before, or the most well-known.
  • Balance digitization with humanity. Do not go all in but also take advantage of human contact and get involved, the human and social dimension.

* Gartner 2020 Magic Quadrant– Life PAS North America

  • September 17, 2020