Market situation in Insurance

Over the past few years, traditional insurance institutions have been able to record largely stable profits in the European insurance market. However, due to the market entry of fast-growing new players, above all InsureTechs and BigTechs e.g. GAFA, an increasingly fierce competition is emerging, which is further intensified by macro-economic factors such as regulatory requirements or changing customer behaviour. The constitution of the current market environment in the insurance industry suggests that the development of new business models and close integration with other industries and agile players (e.g., InsureTechs) will become more relevant in the very near future. 
The insurance industry has so far been considered phlegmatic concerning to the digitalisation of internal processes and customer perspectives, with historically grown IT system landscapes that are not aligned with the technological competitive situation to keep up with the rapid technological development of InsureTechs, among others.
Through business model innovation and industry expertise in the insurance industry, we establish new business and use cases jointly with our clients to sustainably address changing customer requirements. Furthermore, we support a continuous transformation of the IT landscape through the use of modern IT architectures and lean models to realise sustainable and adaptable system landscapes. 

Industry Passion

Established insurers are facing new challenges in the future that require technological expertise and the development of new customer-oriented cases. CORE supports insurers in dealing with these challenges to ensure  long-term business success and not only defend the status quo, but  to distinguish themselves in a future-oriented manner from new market participants. 
As an IT think tank, CORE has expertise in the implementation of complex IT transformations on a technical and organisational level. In the past, CORE has already been able to accompany the development of holistic IT strategies and sustainable architecture target images in the insurance context. Where relevant, this also included the design of new insurance products and their integration into the existing IT. In addition to architecture modernisation, CORE additionally supports the planning and realisation of IT department process and structurereorganisation, to dissolve silo structures through the use of agile methods and to increase efficiency among departments in the long term.