Digital transformation – an opportunity for the insurance industry

The insurance industry has faced a number of changes that have disrupted the traditional business model. One such change that has had a seismic effect on how insurance companies operate in recent years and well into the future is ‘digital services’. We still see that insurance companies are slow to fully adopt digital services compared to other industries (travel, transport, and banking). Yet for insurance companies to survive they must adapt quickly and embrace the digital revolution.

In this insight on digital transformation for insurance industry, we have discussed the opportunity and rewards of implementing an end-to-end digital strategy. These rewards include personalised policy coverage, omni-channel customer engagement and big data analysis among others.