IT outsourcing: M-commerce essential technology for insurance firms

Posted by Louise Tate

Firms using IT outsourcing in the insurance industry risk being left behind if they do not take advantage of the benefits that m-commerce can provide them, a study has warned.

A report by Ovum has highlighted the fact that this technology will have a major effect on the industry and failing to adapt to this could lead younger generations to bypass them when making their first insurance purchase.

Barry Rabkin, author of the report and an insurance technology analyst at Ovum, claimed that this is a game-changing technology that obliterates both distance and time constraints.

He said: "When commerce is conducted at this speed, it creates heightened customer expectations of availability, responsiveness and fulfilment and puts insurance companies on a path to offering a world class customer experience."

Recent research by Ofcom suggested that consumers spend approximately 45 per cent of their waking hours using mobile phones and other communications devices.