PriyaPatel
TLDR:
Key Points:
- Digitalisation is essential for transformation within the insurance industry
- Industry experts highlight the various aspects of digitalisation within insurance
Key Elements of the Article:
Digitalisation is a crucial aspect of transformation within the insurance industry, as firms strive to meet the evolving demands of customers. However, the term “digitalisation” can have different interpretations for each insurance organization. Industry experts, such as Alex Johnson from Quantexa, emphasize that digitalisation can refer to a range of initiatives, from cloud strategies to real-time insights and customer experiences.
Johnson underscores the importance of taking an end-to-end customer view in digitalisation efforts, focusing on aspects such as customer underwriting, personalized experiences, and seamless customer service. One of the primary challenges insurers face in this process is connecting disparate data sources quickly to gain a holistic view of customers.
To enable successful digitalisation, Johnson advises insurers to prioritize data integration and derive insights from both internal and external sources. By understanding customers more comprehensively, insurers can enhance their digital offerings and customer relationships. The Professional InsurTech Certificate course offers a practical exploration of InsurTech topics, including data analytics, customer engagement, and emerging technologies tailored for the insurance sector.
Overall, the article emphasizes the importance of digitalisation in reshaping the insurance industry and enhancing customer experiences through data-driven strategies.
