Moving away from systems of record to systems of Engagement
Watch for less than 2 minutes. I’ve marked it to start at about the 30 second mark, if you watch 2:00 minutes mark you’ll capture what I’ve quoted below.
Geoffrey Moore, author of Crossing the Chasm, writes and talks in an understandable way. He is clear about the challenges facing institutions and legacy systems. Slow to happen for a reason, says Mr. Moore:
“unfortunately, it’s not happening nearly as fast as anyone wants because there’s a lot of complications with bringing consumer technologies into the enterprise…”
“… it’s not as actionable yet as we want it to be, we’re so good at doing the system of record actions because we’ve been doing them for decades. This is newer, there’s legal issues such as privacy issues, there’s lots of technical issues as well and so I think people feel a little bit like, my God, there’s such a big hill to climb, where do we start…”
Automation of the Decoder is next for this reason:
I see the automation looking like what Mr Moore calls, “moment of engagement.”
“moments of engagement, which are the critical strategic moments where your strategy wins or loses, and see if you can’t get the technology involved there because that would really change the performance of your company.”
Today insurance and in particular healthcare processes are rooted in “systems of record.” These are legacy systems and processes still require a fax machine to communicate. It’s human intervention in many places. There is a lot of work to do and it won’t be easy but the rewards will be significant. This video clip underlines the fact that moving out of systems of record and into systems of engagement will be hard work and difficult because of the complexities.
I’m hopeful that others who want to enter this space can find their way, marrying underwriting, technical, compliance and operational histories with the latest technology are whats needed.