Insurances

Innovative IT solutions for the insurance industry

The insurance industry is a cornerstone of modern society. It provides security and stability by protecting businesses and individuals against a wide range of risks. However, the industry is facing significant challenges from new AI technologies, increasing regulatory requirements and external influences such as climate change, demographic shifts and global cybercrime.

At the same time, these developments offer enormous opportunities: increasing digitalisation enables more efficient processes and personalised products, while AI and machine learning promote more accurate risk assessment and automation. To remain competitive in this dynamic environment, insurers need to continuously evolve, implement sustainable solutions and invest in the skills of their people.

At CANCOM, we can help you make the most of these opportunities.

With our tailored strategies and solutions in cyber security, cloud services and data management, we can help you increase efficiency, develop new markets and strengthen customer loyalty. Our goal: to accelerate your digital transformation and prepare you for the increasing demands of the industry.

Challenges

  • The insurance industry is under pressure to change: Climate change, demographic shifts and the rise of cyber risks are posing enormous challenges to the insurance industry. Insurers must quickly adapt and modernise their business models to remain relevant and effectively manage new risks.
  • Regulatory requirements: With stringent regulations such as KRITIS and BaFin requirements, insurers must ensure that they meet legal standards while maintaining the flexibility to respond to market changes. Complying with these regulations requires robust IT infrastructures and comprehensive compliance strategies.
  • Customer Expectations and Digital Transformation: Customer expectations have changed significantly as a result of digitalisation. Insurance companies must now deliver seamless, digital experiences to remain competitive. This includes everything from quoting to claims – everything needs to be fast, efficient and customer-centric.

Solutions

Specialised IT solutions

CANCOM offers a range of IT services that are specifically tailored to the needs of the insurance industry. These include, among others:

  • Optimisation of underwriting processes: By using AI and data analytics, insurers can make more accurate risk assessments and increase the efficiency of their underwriting processes.
  • Digital claims processing: Automated systems enable faster and more efficient processing of claims, which can significantly increase customer satisfaction.
  • Automated risk assessments: Advanced analytics and machine learning can be used to assess risks more accurately, optimising premium design.

Digitalisation Strategies

CANCOM helps insurance companies modernise their IT infrastructures and implement innovative technologies such as artificial intelligence (AI) and machine learning (ML). We place particular emphasis on optimising the technology base and making it more flexible. This includes:

  • Hybrid cloud architecture: Flexible hybrid cloud infrastructures that support both on-premise applications on the mainframe and traditional virtualization, as well as integrating new Kubernetes-based applications and the public cloud. We take optimal automation, scalability and security into account.
  • Data centre automation: Data centre automation to increase efficiency and reduce manual intervention.
  • Application Platform: Providing a robust platform for building and running modern applications.
  • DB Modernisation: Modernising databases to achieve better standards of performance, scalability and security.
  • Mainframe modernization & integration: Modernization of mainframe systems and integration with modern hybrid cloud applications.

These measures not only enable greater efficiency, but also the development of new data-driven business models that meet the demands of the digital age.

Security Solutions

With an increasing focus on security, resilience and encryption, CANCOM offers comprehensive security solutions that ensure the protection of sensitive data, continuous IT operations and intellectual property. Our solutions help you prevent cyber-attacks, detect threats early and respond quickly in the event of an emergency.

Services

With the right IT services, insurance companies can increase their efficiency, minimize risks and concentrate on their core tasks. CANCOM supports you as a reliable partner with a comprehensive portfolio of managed services, consulting offerings and solutions specially tailored to the insurance industry as well as mainframe services. Together, we create the basis for innovative business models, sustainable digitalization and efficient management of your challenges.

Managed Services

CANCOM takes over the complete management of your IT systems, allowing you to concentrate on your core business. Our managed services include
Cloud Solutions: Scalable and secure cloud services that give you flexibility and cost efficiency.
IT Support: Around-the-clock support to ensure your IT systems run smoothly at all times.
Security Services: Proactive monitoring and protection of your IT infrastructure against threats.

Consulting

Our experts provide comprehensive advice to help you develop tailored strategies to optimise your business processes and secure competitive advantage. We offer
Strategy Consulting: Helping you develop IT strategies that support your business objectives.
Technology Consulting: Advice on selecting and implementing the right technologies to drive your digital initiatives.
Process Optimisation: Identifying and implementing measures to improve the efficiency of your business processes.

Industry Solutions

CANCOM offers specific services for the insurance industry, including
Custom application development: We develop bespoke software solutions tailored to your needs.
ESG compliance: Supporting the implementation of ESG strategies to meet increasing demands for sustainability and social responsibility.

Why CANCOM

CANCOM is your strong partner when it comes to meeting the specific challenges of the insurance industry. With in-depth industry expertise, strong technology partnerships and tailored solutions, we provide reliable support for your digital transformation. 

Experience and expertise

With decades of experience working successfully with leading insurance companies, CANCOM understands the specific challenges and requirements of the industry. Our in-depth knowledge of the industry enables us to develop solutions that best meet your needs.

Partnerships

CANCOM's strong partnerships with technology leaders such as IBM, Microsoft and Cisco enable us to offer you the best and most advanced solutions. These partnerships ensure that we are always at the forefront of technology and can offer you innovative products and services.

Success stories

Our success stories are a testament to the quality of our work. Insurers such asย Nรผrnberger Versicherung have significantly improved their processes and customer satisfaction by working with us.ย 

Legal

The insurance industry has to comply with strict regulatory requirements, especially as part of the critical infrastructure (KRITIS) in the financial and insurance sectors. BaFin requirements (VAIT and MaGo) demand robust IT systems and efficient organisational structures. At the EU level, EIOPA ensures uniform standards, while the Digital Operational Resilience Act (DORA) will strengthen the digital resilience of the industry from 2025. In addition, specific laws such as the KWG, ZAG and SSM may be relevant for certain firms. These requirements require continuous adaptation to ensure compliance.

CANCOM offers comprehensive support to help insurance companies meet all relevant regulatory requirements. With our tailored solutions for IT security, compliance and digital resilience, we ensure that you can implement the requirements of KRITIS, BaFin, EIOPA and DORA efficiently and reliably.