In July 2009, NIIT Technologies Ltd UK hosted a focus group event with some of the leading UK insurers at the Rhodes 24 Restaurant in the heart of the City of London.
The location, central to London’s Insurance and Financial district drew a significant gathering. Ravi Pandey, Goutam Kundu, Ritu Gupta and Nikhil Vaishnavi attended from NIIT and talked about how we could help insurers deal with the current financial crisis and maintain profitability.
The insurance industry, as the speakers pointed out, has been impacted by current economic conditions, financial market meltdowns, global slowdown, lower profitability and investment returns. The event focused on tightly managing expenses, protecting capital, reducing risk and volatility for a leaner environment while aspiring for profitable growth. The following four pronged strategy was discussed during the event:
- More focus on the Customer
- Finding profitable avenues of growth
- Keeping tight reign on expenses and managing capital
- Mitigating risks
Insurers learned how NIIT has partnered with a number of insurers globally to enable their technology teams to facilitate the four-pronged strategy and reap the related benefits.
To facilitate customer focus, NIIT talked about how we have developed technology solutions that help embrace multiple distribution channels and access points, and have developed intelligence through customer touch point analysis and customer data residing in different databases to identify cross selling and up selling opportunities.
We shared with attendees our focus on expense reduction and cost, which ranks highly on CIO’s agendas today. Participants heard how NIIT has helped many customers identify redundancies in their IT enablement services, and address them to realise substantial savings.
Delegates were able to gain an understanding of how our global customers have benefited from such strategies.
For further information on how NIIT Technologies can assist your company through the current financial crisis, contact marketing@niit-tech.co.uk
Table View from Rhodes24 Restaurant