May 17, 2017
The insurance industry is at very interesting crossroads. Many insurance companies, from large tier 1 national brands to tier 2 and tier 3 mid-market regional providers, are deeply rooted in a traditional policy-centric model that puts the customer experience in the back seat. Insurance is often a required service for customers who buy policies with complexities that are hard to understand, and then only re-engage with their insurance companies when a negative event occurs.
Meanwhile, new digital-born insurtech companies are entering the market with the focus and capabilities to address today’s on-demand consumer expectations. These insurtech companies showcase what is possible when insurance organizations embrace digital mindsets. As more and more of these companies enter the market, traditional insurers must adapt or risk becoming obsolete.
It is no easy task. Change does not come easy for many organizations across all industries, not just insurance. For nearly a century, insurers have struggled to modernize their strategies, mindsets and relationships with policyholders. The challenges of digital transformation may seem great, but the opportunities available to insurers that aggressively pursue digital, customer-centric strategies are even greater.
- Evaluates the state of digital transformation in the insurance industry with data from the 2017 Executing Digital Transformation Study as well as new data exclusive to this report
- Provides a three-step insurance methodology that you can immediately put into practice
- Offers technology and design improvements available to insurers
- Includes tips on how to more effectively work and integrate with third-party service providers
Download the full report here: The 2017 Insurance Digital Transformation Report