CIOs are burdened to modernize their policy administration systems in order to engage with the new age customers. Insurers are expected to build a composable platform to interact with their customers by means of any device and to achieve most of the business goals through AI led automation, personalized for their customers.
Key statistics advocating the need for Digital Insurance:
- 53% of customers may not strongly recommend an Insurer who does not provide any means of Digital Interaction
- 61% of Insurers around the world predict more technology changes in the Insurance sector in next 5 years
- 74% of Insurers felt they lacked internal skills and technology foundation to drive Digital Innovation
