Property & Casualty Digital Strategies: Cheaper, Smarter, Faster, Better

Celent looks at the results of recent customer relationship management (CRM) implementations and draws out key learnings.

New York, NY (May 26, 2014) – Property & casualty insurers can make significant improvements in their top lines, bottom lines, and brands through the thoughtful development and careful implementation of digital strategies. Doing so requires an understanding of how digital strategies differ from conventional strategies, the nature of digital goals, and the way digital enablers of those strategies will significantly change over the next few years.

A digital strategy is a set of high-level digital activities (or a combination of digital and physical activities) designed to achieve digital goals.

Processes, digital strategies, and current and future enablers

“A variety of digital strategies can be created within any property/casualty process, for example, new business, policyholder service, or claims,” said Donald Light, Director of Celent’s Americas Property/Casualty Practice and author of the report. “Each digital strategy is aimed at achieving specific digital goals, and uses either current or future enablers.”

More detailed analysis is available in the report Property & Casualty Digital Strategies: Cheaper, Smarter, Faster, Better, available from Celent.

About Celent

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is part of Marsh & McLennan Companies (NYSE: MMC).

Source: Celent