The return of investment market volatility could make 2019 a year when what life and annuity issuers really want out of information technology is stability.
When the environment is calm, insurers may dream of fancy tech worlds of tomorrow.
When the ground is rolling like waves on the ocean, insurers may cling to any tech systems that can help them stay upright as banks, securities brokers, asset managers, and poorly anchored insurers blow past.
(Related: Mnuchin Bid to Calm Markets Risks Making Bad Situation Worse)
Here are five questions that could hang over our insurtech coverage in the coming year.
1. What kinds of systems can help a life and annuity issuer do a better job of keeping tabs on exactly what its financial position is right this second?
For a life insurer operating in volatile times, the very top priority may suddenly be having the best possible accounting systems.
2. How well does that system handle international businesses, and how well can it handle the uncertainty about whether the United Kingdom will end up leaving the European Union this spring?
Big, multinational life insurers will also need systems that accommodate the possibility that the fate of Scotland and the fate of Ireland could be different from the fate of England.
3. What does that organization’s website look like on a mobile device?
In the past, life and annuity website redesigns often seemed like optional activities.
This year, website redesign projects could be key to survival for agencies, and smaller life insurers, that get a significant percentage of their business through their websites.