IBSuite: New Business Innovation

We all recognize that the Olympic gold medalists in 100m dash as well as marathon are extraordinary runners. We also intuitively know that they would have no chance if competing against each other. Their bodies are very different, and for years their training has been focused on optimising their performance for very specific competitive scenarios

Likewise, your legacy IT is built for your ongoing business and is most probably fulfilling this task in a good manner. At the same time you might find that implementing new and innovative insurance products, -channels or -business models are too expensive or time-consuming, or acquisitions are too cumbersome to integrate into the existing IT environment. In that case, then do not try to bend your existing system in a wrong direction, because the characteristics of what you need are probably significantly different from what you have …

Bi-modal IT – or a Greenfield operation
More and more insurance companies have therefore realized the need for a bi-modal IT strategy, where a specialized IT-environment is used as an incubator for serving new business and testing new markets. Some companies implement this side-by-side with the existing platform and use it to foster innovation within the organization, and others choose to go even further and create a new legal entity with a separate brand and a new corporate culture. But no matter which approach you decide for, the keywords for the new setup must be “speed” and “agility”.

Dynamics & Flexibility
Today, you cannot allow that the creation of a new insurance product ends as a comprehensive IT project. Setting up new products or variants must be over in hours or days and deployed without any IT downtime at all. Third party data should be easily integrated to enrich the quality and user experience, and customer/partner self-service is a necessity.

IBSuite is an agile IT solution of the New Era as recommended by the Bi-modal IT ideas

We can help you!
IBSuite is designed with change in mind, with a special focus on significantly smaller implementation efforts, easy and quick configuration of new products and channels, and is deployed as Software-as-a-Service effectively shielding you from costly and time consuming upgrade projects, system maintenance and IT infrastructure cost.

In other words, an IT solution of the New Era.