Freewill recognises that there are a variety of technologies under development today, both locally and globally, and at varying degrees of maturity, which are pertinent to the Thai insurance industry. These technologies may be described under the following headings:
Embryonic technologies: 10 or more years away from mainstream adoption
These “over the horizon” technologies are evolving globally and, typically, are not yet fully understood or defined according to globally recognised standards. Examples include:
Cloud computing and
Claims animation
Next Generation technologies : 5 – 10 years away from mainstream adoption
These are technologies which are well defined, typically already available/deployed on a global scale, but not yet fully adopted either globally or in Thailand. Based on a typical IT life-cycle of 5 years, existing legacy platforms may be replaced and/or upgraded with these technologies during the next round of IT systems upgrading. Examples include:
Web services
Telematics (the use of wireless devices to transmit data in real time back to an organization)
“The here and now” : available today
These technologies are already available on a global scale, the technology is well understood but, according to research conducted by global IT research firm Gartner (see “Hype Cycle for P&C Insurance, 2009”) the technologies are not yet fully adopted BUT should be adopted due to their ability to positively impact the business. Examples include:
Business rules engines
Wireless claims applications
Claims management solutions
Business intelligence tools
Freewill has already released products and services to the Thai market that address the need for business rule driven products and the business intelligence/data mining requirements of Thai insurance companies. Today, we are launching wireless claims and claims management solutions.
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