Consumers are moving online and recalibrating their expectations of insurers. Against this backdrop becoming a Digital Insurer is an imperative for survival, and increasingly will be the foundation for achieving high performance.
To become genuine Digital Insurers, companies must transform their infrastructures and operations.
Acquiring and developing four capabilities holds the key:
Insurers must achieve cross-channel excellence.
Insurers must become customer-centric, with the ability to personalize interactions.
Insurers must strive for operational simplicity.
Insurers must ensure superior execution combined with agility.
Becoming a true Digital Insurer requires profound change and will thus not be achieved overnight. Accenture sees this transformation as a four stage journey from the conventional standalone insurer to the holistic, multi-channel insurer.
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