Coforge Advisory SME’s John Speight and Joseph Mendel respond to common questions on LIBOR. FCA announced in 2015 that it would only support LIBOR until 2021. The cost of administration for panel banks along with the regulatory and reputational risk associated with any issues means that banks are unlikely to continue providing the requisite rates post 2021 once compulsion retracted.

Insurance companies are realizing that empowering their sales intermediaries with digitalized methodologies and tools offers tremendous growth potential. This paper explores how insurance companies can leverage digital strategies for empowering and motivating the salesforce through a never-before selling experience, and delight customers by offering a superior buying experience.

As companies pursue sustainable high performance, a scalable and secure platform is emerging on the horizon—one that transforms manufacturing and retail companies’ source-to-pay processes. This paper explores one such platform that supports any procurement transformation journey. It identifies seven challenges and 10 features to demonstrate how and where the new platform can deliver a wider range of benefits.

Airlines have a huge opportunity of utilizing analytics to improve their ancillary revenues. Using structured analytics maturity framework to drive analytics initiatives for the right personalized offers can boost ancillary revenues besides customer satisfaction and customer retention.

There are severe scalability challenges with using Ethereum Blockchain network platform when organizations attempt to deploy it for enterprise-grade applications. There are several potential solutions to address it, but a balanced study is needed to understand the benefits and limitations of each before deploying them. Our detailed study of 3 potential options compares and contrasts one against the other. It indicates a high probability of success if one or a combination of solutions is adopted before deploying a specific application on the Ethereum platform.

The Blockchain reference architecture with pre-assembled components designed and delivered by Coforge is production-ready with enterprise-grade capabilities. With its easier adaptability and faster development capability, the reference architecture fills the critical gap in expertise while enabling the business organizations and their technical teams to focus more on their business use cases. It will enable a consistent standards-based solution and help the organizations accelerate their Blockchain adoption journey by driving solutions to the market quickly, cost-effectively and successfully.

Today, consumers are uber-connected. Every second, they are making their presence and preferences known through different media. Knowing consumers is relatively easy, but knowing how to deliver on customers’ expectations requires understanding them better and adopting a customer-centric focus and omnichannel technology to implement it.

In an increasingly volatile and customer-centric age, it is essential to not only invest in SOA that enables real-time integration, but also assimilate risk-related information. The insurance industry needs to fast-track the assimilation process, right-price risks, and explore the possibilities of accessing real-time information. This paper discusses how data aggregators integrate with core policy administration systems to directly receive underwriting and risk data in real-time and use it for decision-making and accurate risk-pricing.

Realizing the benefits of cargo systems requires new ideas that deliver more value. The “idea” is a smart cargo management system that automates and simplifies the cargo handling process. COSYS, co-developed by Coforge and SATS is a proven warehouse management system specifically designed for cargo ground handling agents and cargo carriers.

A forward-looking digital strategy that is customer-centric supports revenue growth, making digital programs a high priority. However, the timely and successful deployment of strategy initiatives is limited by the pace at which digital applications can be produced and updated. This paper discusses cost-effective data and application integration solutions to power an aggressive digital enablement strategy— the secret sauce of successful customer-oriented organizations.

The insurance landscape is evolving rapidly and is fraught with challenges. Insurance providers are required to deliver swift, effortless engagement, ensure enhanced user experience and timely responsiveness, and adapt to match fluctuating market demand. Add to this, the increasing regulatory and compliance environment. Dealing with these issues requires astute business acumen, innovation, and agility. While reports indicate that insurers are investing in development methodologies, flexible infrastructure, modern applications, and operational excellence to improve business dexterity, the urgency to up the ante and reinvent strategies, products, and services cannot be overstated.

Legacy systems supporting the insurance industry burden it with high operational costs, inflexibility, inadequate technical support, high compliance risks, and incompatibility with newer systems. Yet, maintaining these legacy systems can offer a competitive advantage. A robust knowledge acquisition engine, coupled with strong knowledge institutionalization can go a long way in helping the support and maintenance teams to comprehend the business functionality within the legacy applications, enabling them to create a modernized application in a relatively smaller timeframe.