Digital Transformation in the Insurance Sector

  • Insurance
    companies need to
    innovate to survive:
  • 83%

    See innovation as key to success

  • 48%

    Experience difficulties due
    to more innovative
    competitors

  • 74%

    Lack skills
    to drive innovation

Digital transformation helps to stay on top of technological turmoil
  • HOT TRENDS

    of digitalization
    in the Insurance sector 2019-2020

  • New Models, Personalized
    Products via sentiment analysis,
    social media, 360° view of
    customer
    , better digital
    customer surveys, telematics

    insurance_1
  • Advanced Analytics
    & Proactiveness via Internet of
    Things,
    mobile-enabled
    InsurTech apps, wearables,
    drones and imaging technology

    insurance_2
  • Mainstreaming Blockchain
    secure data management.
    identity management, fraud
    management, smart contractors

    insurance_3
  • AI & Automation
    for Faster Claims via RPA. Data
    automation, behavioral
    economics, virtual assistants

    insurance_4
  • InsurTech Partnerships with
    software providers

    insurance_5

Digital Solutions for Insurance Sector

finance_payments_and_pos_insurance_solutions
    • item icon
      BI/DATA ANALYTICS
      • Reports & Dashboards
      • Data Warehouse
      • BI Portal
      • Customer Analytics
      • Life / Non-Life Agents
        Commissions
    • item icon
      COLLABORATION
      • Document
        Management
      • Self Serve Portal
      • e-Learning
    • item icon
      WEB AND MOBILE SOLUTIONS
      • Policy Sales
      • Customer Portal
      • Partner/Agent Portal
      • Claims Resolution Portal
    • item icon
      IOT (INTERNET OF THINGS)
      • Connected Insurance
      • Direct to Consumer
      • Integration
      • Automation
      • Analytics
    • item icon
      BIG DATA & BI
      • For Life and Non-Life
        Lines of Business
      • Policy Data
        Management
      • Policy Lifecycle
        administration
      • Policy Underwriting
      • Product Management
      • Life Product
        Development
      • Risk Assessment
        Analysis
    • item icon
      SALES AND CRM
      • Retail and Enterprise
      • Direct Sales and
        Partners

Benefits of Digital Transformation for Insurance Sector

The Benefits
item icon For the Enterprise  

Increasing revenue by at least 30% by reducing sales cycle completion, increasing policies sold, increase policy renewals and referrals, and reducing attrition rate through customer and agent satisfaction

item icon For the Customer  

A more compelling customer experience through self-serve portals/customer service, personalized recommendations of packages, reduction of time per claim and processing

  • Key digital transformation steps
  • 01.

    Assess the current state of digital across your organization

  • 02.

    Define your digital transformation objectives

  • 03.

    Outline digital transformation roadmap

  • 04.

    Choose your technologies

  • 05.

    Establish
    software
    partnership

  • 06.

    Empower
    and educate
    your staff

Embark on your Digital Experience journey and explore the benefits of our customized solutions, contact us.

30 Years of Evolving Insurance Solutions

  • camera icon
    1995
    • Insurance goes online
    • Workflow automation enterprise systems
    • IT investments decrease costs
  • 2000
    • Extended customer offering
    • Accessible customer support
    • IT becomes main source of innovation
    • Rise of digital insurers
  • 2005
    • IT enhances products
    • New markets created with tech
    • Process innovation becomes source of advantage
    • Multichannel experiences
  • 2010
    • Adoption of IT systems increases productivity
    • Data collection & storage allow personalization
    • Focus on customer
  • 2015
    • Data analytics offer insights into customer behavior
    • IoT enables targeted risk assessment
    • Focus on DTC and self-service
  • 2020
    • COVID accelerates digital transformation
    • Remote productivity and digital workforce vital for survival
  • 2025
    • IT key part of competitive advantage
    • Automation & data mngmnt key to success
    • Laggards will lose substantially in the market