Both industrial insurance and enterprise software development operate in a complex and dynamic business environment. To be successful, both industries need to focus on values such as reliability, excellent risk management, and long-term, responsible business practices. In this article, I would like to highlight some of the parallels between the two industries and show how we have been operating a stable software solution for industrial business for 17 years with mgm Cosmo.
Industrial insurance helps companies protect themselves against a wide range of risks that are becoming increasingly complex in a globalized and interconnected world. Enterprise software development, on the other hand, is in charge of providing innovative solutions that help companies manage these business processes efficiently. Both industries are challenged to cope with complex and multi-layered requirements in a constantly changing environment. And the insurance companies and brokers themselves also need stable solutions and partners for digitization.
Another unifying feature of both industries is the need for effective risk management. For industrial insurance, this means developing the appropriate coverage concepts for customers and aligning them with the company’s own risk portfolio. Enterprise software development has the task of providing long-term usable applications that run stably, securely and scalably. This also includes professional project, product and risk management. Enterprise software follows different rules than consumer software.
The pursuit of continuous growth is also a common characteristic of both industries, which contrasts with the exponential growth idea of startups and insurtechs. Long-term success and the ability to stand one’s ground in difficult market phases are crucial to gaining and retaining the trust of customers and partners.
For 17 years mgm Cosmo has been successful in the market as a software solution for complex industrial business. Cosmo covers all essential aspects of industrial insurance, from digital underwriting and efficient portfolio management to accounting, digital sales and effective claims management.
Cosmo stands for a high-quality and proven software solution that is used in productive applications in the international industrial insurance business: German Technology – Global Delivery.