ANALYST MATERIAL

Build your open insurance ecosystem

Design, deploy, and manage open insurance interfaces with Red Hat

Widespread availability of digital technologies and services continues to transform nearly all industries. Policyholders expect high-quality, personalized digital services in all aspects of their lives — including insurance — and are quick to consider competitors’ services if their needs are not met. Insurance providers must deliver valuable, engaging services to their policyholders to remain competitive. Even so, no single insurer can develop the multitude of required services themselves. Insurers must collaborate with partners to create multifaceted customer experiences.

An open insurance ecosystem can help you connect with partners to build valuable relationships with your customers. These partners include other insurance companies, financial services organizations, insurtech companies, and third-party service providers from other industries.

Whether you assemble your own or connect with another established ecosystem, your organization can gain many benefits:

  • Deliver the innovative, integrated services and experiences that policyholders want.
  • Adopt new business and delivery models to expand revenue opportunities.
  • Employ partner capabilities and emerging technologies to create new services faster, boost efficiency, and promote innovation.
  • Monetize your assets by providing controlled, authorized third-party access to your own services and to customer data.