Reinventing Insurance: Transforming Costs into Competitive Advantage

Discover how insurers can turn cost challenges into opportunities for competitive growth. This paper explores innovative strategies for optimizing operations, modernizing legacy systems, and leveraging AI, RPA, and cloud technologies. Gain actionable insights on enhancing efficiency, improving ROI, and navigating digital transformation to build a resilient, customer-focused insurance ecosystem.

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Core Modernization

IT Optimization

Strategy & Decision-making

Artificial Intelligence

Core Modernization

Table of contents

Introduction

Market Trends

Cost Optimization Techniques

Incumbents and Insurgents Pioneering Tech Upgrades in the Insurance Industry

NTT DATA Approach

Use Case

Conclusion

About the authors

Amitabh Bisaria

Vice President, BPO at NTT DATA North America

Sr. Director Sales at NTT DATA North America  

Mergers, Acquisitions and Divestitures Consulting for Insurance at NTT DATA North America 

Prashanth Kulkarni

Strategic Advisor and Enterprise Solutions (Sr. Director) at NTT DATA North America

Industry President & Business Leader at NTT DATA, Inc.

Head of Insurance at NTT DATA North America

Senior Vice President - Life & Annuity Business Leader at NTT DATA Inc.

CEO at NTT Ltd. China and Hong Kong Region

Head of FSI NTT Singapore Pte Ltd

Head of GTM, Go-To-Market | Sales Management

Krishnappan Ramanathan

Managing Director at NTT DATA Singapore 

Head of Sales at NTT DATA China

NTT DATA Global Services - President and CEO

Vice President, NTT Ltd

Director, Insurance Consulting: Senior IT Insurance Leader at NTT DATA India

James Powell Fernández Shaw

Digital Strategy & Advisory Executive Manager at NTT DATA Europe & Latam 

Miguel Ángel López Toledo

Head of Smart Operations at NTT DATA Insurance Europe & Latam 