Digital Transformation in Insurance

The insurance industry is undergoing a period of unprecedented change. Large incumbent insurers are seeking replacements for legacy systems to better connect with customers while insurtechs are breaking funding records and flipping traditional insurance models on their heads.

Preparing organizations for change can be challenging, but with the right approach, digital transformation is a rewarding process. All major digital projects carry risk, and special considerations for security, regulatory compliance, and integrations with existing investments can pose a hurdle to transformation as well. 

Carriers are shifting towards greater flexibility, scalability, and personalization, driving the rise of digital ecosystems and cloud computing. Navigating the complexities of digital transformation in insurance requires a coherent, long-term strategy that is flexible enough to accommodate unexpected shifts and new technologies.