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In today’s rapidly changing insurance landscape, all eyes are on the customer. They are empowered. And they have more control than ever before – of who their insurers are and how and when they communicate with them. And the competition among insurers is stiff....
The convergence of insurance and digital technology — “insurtech” — has transformed the industry. Although insurance companies initially feared insurtechs would whittle away at their market share, partnering with these disruptive tech firms is now widely seen as the...
According to McKinsey’s latest “Global Innovation Survey,” more than 80% of executives believe innovation is an important aspect of their growth strategy. However, only 6% are anywhere near satisfied with innovation performance. This is a monumental gap but it’s not...
Life insurance has traditionally been an arena where customers were unlikely to move around much, but this has changed. Competition has stiffened, and people have access to new digitally-driven policies. As a result, simply making experiences convenient for customers...
Legacy systems, whether a few years young or decades old, simply were not designed for today’s business models and fast integrations. In fact, according to our “2020 Insurer Compass Report,” 88% of insurance professionals believe legacy systems are actually preventing...