The Challenges Driving the Digital Transformation of Insurance Technology has changed the rules of engagement

by Sameer Joshi or 01-Jun-2018

The momentum of change and technological innovation within insurance has exploded in the last few years, evidenced by increasing levels of investment in insurtech both globally and within the UK. There are some very real existing and emerging challenges in the market that need to be resolved which, at their very core, require a rethinking of what insurance looks like. Only in understanding these driving forces can we start to effectively frame the solutions needed to deliver excellent customer experiences.

Key Highlights -

In a world of instant and mass connectivity, enabled by technology, knowledge has been democratized. In this new reality, if you don’t provide excellence as a service you’ll be found out very quickly.

Delivering customer delight primarily comes down to satisfying two needs: responsiveness and communication.

Trust is already the most critical currency insurers must trade on - it is truly foundational.

The conversation will be moving from one in which an insurer offers the traditional product of risk transfer to one in which it will provide risk management products and a broader wrap-around complement of services.