M&A has become a common path to growth in the insurance industry.
Since January of 2018, there have been 257 deals announced in the insurance sector, collectively valued at more than $26 billion according to a recent report by PwC.
Post-deal, there is pressure for business leaders to achieve success as quickly as possible, with Board members expecting big returns on their investment almost immediately. One important part of the mix is technology, which can help to overcome many of the challenges caused by M&A, particularly in insurance.
Novidea has published a comprehensive new white paper that explores technology’s role in successful insurance mergers and acquisitions: Growing Your Business Through M&A.
The paper explores how technology can help address some of the main concerns common to most business integrations, such as how to get to grips quickly with the new business so that informed decisions can be made; how to deliver increased revenue and profit from the combined business; and how to lay a firm foundation for future business growth.
While none of these challenges are straightforward to overcome, technology has a crucial role in helping address all. A data-driven business model can provide a 360-degree view of the business and a single view of the customer, providing real-time, actionable intelligence to improve decision making and help find new sales opportunities to name just a few. If M&A could be on your horizon, download the paper now.