Business growth, efficiency and effectiveness through digital transformation are top business priorities for insurance companies today. Transitioning into a digital enterprise can help insurers develop new business models, which will address disruptive changes occurring in the economic, social and technological environments and drive profitability and growth.
Digitisation is rapidly changing the urban, semi-urban and middle to small town landscape. Right from determining key political outcomes to influencing buying behaviour, digital is playing an important support role in the lives of customers. In an off-the-cuff poll in which people were asked which is the most important thing they consider when leaving the house every day, the top answer was their mobile devices. Almost every product purchase across every industry is preceded by a quick online research which includes other customers’ reviews and comparisons. Hence, it is inevitable that a significant and involved investment like insurance mandate that the customer does her due diligence before entrusting her hard earned money with the insurer.
