This report explores The Hartford’s digital transformation strategies. It also provides extensive insight into its technology initiatives, covering partnerships and product launches. In addition, the report includes details of the company’s estimated ICT budget for 2020.
The Hartford is a financial holding group. Through its subsidiaries, the group provides a range of property and casualty insurance, as well as group benefits and mutual funds to individual and business customers. It serves customers via direct sales, brokers, banks, registered investment advisors, affinity partners, an internal salesforce, and independent agents.
The Hartford has deployed robotic process automation across its operations to automate redundant tasks such as filing customer insurance claims, as well as automating transactions to drive speed and improve the quality of claims executions.
The Hartford aims to strengthen its digital expertise through key hires. In 2017, Robert Paiano was appointed as executive vice president and chief risk officer. He leads the group’s enterprise risk management operations, with the aim of accelerating growth and enhancing the customer experience.
- The Hartford leverages big data, AI, blockchain, data analytics, cybersecurity, the Internet of Things (IoT), the cloud, insurtech, and machine learning to develop products that enhance the digital experience for its customers.
- In 2018, Hartford launched an IoT Innovation Lab focused on accelerating IoT innovation within the group. The lab supports core business units and incubates breakthrough startups, services, and business models.
- In 2018, Hartford launched a Small Business Innovation Lab in New York, which works towards driving growth and innovation across the organization by leveraging insurtech partnerships, digital technologies, and data analytics. The lab designs, develops, and tests new products and business models to address the evolving demands of customers.
- Hartford InsurTech Hub is an accelerator program launched in 2017 by Startupbootcamp along with founding partners Cigna, The Hartford, CTNext, USAA, Travelers, and White Mountains. It is a three-month accelerator program that provides training and mentorship to support budding fintech startups. The program aims to develop new technological solutions that address customer demands.
Reasons To Buy
- Learn about The Hartford’s fintech operations, including investments, product launches, partnerships, and acquisitions.
- Gain insight into its fintech strategies and innovation initiatives.
- Discover which technology themes are under the group’s focus.