The Peak of Insurance Innovation

Changing customer expectations, digital transformation, growth needs in the face of resource scarcity, and environmental concerns are impacting every industry, including insurers. These changes accelerate the demand for new customer value and an enhanced customer experience (CX) is key to creating this value. For many insurers, CX transformation is an active investment area and a critical business objective for 2017. Digital transformation requires a vision of how to fully leverage the changes and opportunities of digital technologies in a strategic and prioritized way.

85% of insurance executives are deploying CX initiatives but most are struggling to see the true benefits. Simply adopting technology and analyzing data isn’t enough. A fundamental culture shift and a mindset change to being a tech and data driven organization is the only way we will be able to meet the needs of our current and future customers.

Insurance continues its rapid pace of change with customers leading the charge! But the big difference from the last 2-3 years is that the changes represent shorter periods with key breakpoints signaling significant shifts in customer behaviors and expectations. The result evolving and new challenges and opportunities for insurance leaders.

The implications of digital will extend into operational efficiencies, the customer experience, the changing risk landscape, and products. Digital transformation will be required in life & wealth and property & casualty, both commercial and personal lines, as well as reinsurance.DXC hosted a live webinar on how to make the most out of your digital transformation journey. We discussed how leaders in the industry now are striving to build an organizational and technological platform to allow for rapid response to opportunities and threats in the marketplace. This is where true digital transformation becomes a possibility. .