In the insurance industry, business is all about protecting valuable items of people. This is why insurance industries need to make sure that they are using tools and technology that serve to bring their clientele sufficient protection. This is to help make sure that their products and services stay innovative. A good example of a company doing this in practice is Liberty Mutual. With more than 50,000 employees and 900 global locations, Liberty Mutual is one of the few in the industry that experience business on a large scale.
This is why they have a few unique problems that they run into as a bigger insurance business. They are forced to compete with many internet startups who have the advantage of mobility through the use of cloud-based technologies. They also need to take care from their other competitors as well who try to disrupt their value chain and build stronger relationships with their client base.
To overcome these challenges, Liberty Mutual had to make a change, a digital transformation. Microsoft office 365 and power BI were just the products to help them start this journey. Office 365 improved the collaborations of their worldwide team. They are able to share insights more conveniently, helping them with the product development process and shorten the time for breakthroughs for products the import and export globally.
Analytics is also a very important ability to have in the industry. Office 365 has helped Liberty Mutual through faster response to market changes. They are now moving to a more agile development process in which smaller groups from multi-disciplinary employee groups are able to collaborate on new products with more efficiency. Chat-based real-time collaboration has increased their proportion of people across their company who normally could not collaborate with each other through regular means. Analytic tools as well is the other way in which helped them increase their efficiency, this is where Power Bi comes in. With just the right amount of user friendliness and high-level insights, even departments like Claims, Legal, Reinsurance and HR are able to quickly pick out information from just the dashboards and KPIs.
With new tech savvy recruits, they are now accustomed to wanting mobility compared to on-premise workstations. They need to be able to have access to what is normally on-premise on the go, this is not only a storage concern but also security one. Office 365 helped them as they are able to access their documents and emails on the go while still maintaining a high level of security for their employees.
To learn more about Office 365 and other Microsoft products, you may contact us at 8893-9515 and we would be happy to answer your inquiries!