Improving the customer experience is the top digital transformation objective for P&C insurance firms: Aite Group report
Boston, MA (Jan. 29, 2020) – As the P&C landscape shifts and consumers begin to demand similar experiences to those of other industries (such as Amazon in retail), P&C insurance firms are faced with some decisions about how to structure their operations to meet these new demands. The past few years have seen the emergence of numerous tools and technologies that can help firms in their digital transformations. But are these tools being used or merely considered?
A new Aite Group report, Digital Transformation in P&C Insurance: Current Benchmark and Future Roadmap, provides P&C insurance carriers with a critical benchmark of where the industry stands in regard to digital transformation efforts and discusses how their organizations should assess their internal strategic and execution progress.
“There is much more to digital transformation than just updating software and layering in digital tools and processes,” says Jay Sarzen, senior analyst at Aite Group. “Carriers can’t just sling a dart and hope to hit a bull’s-eye. Goals and objectives must be communicated across the organization, and budget allocations need to align perfectly with those goals.”
Click here for the online report summary or to download the table of contents.
This Impact Report is based on an online Aite Group survey—conducted in partnership with SVIA—of 48 insurance carriers, brokers, and agencies globally in Q2 2019. Of these 48 respondents, 19 represented the P&C space, and these responses are the focus of this report.
This 40-page Impact Report contains 27 figures and one table. Clients of Aite Group’s P&C Insurance service can download this report, the corresponding charts, and the Executive Impact Deck.
Click here for the online summary or to download the table of contents.
About Aite Group
Aite Group is a global research and advisory firm delivering comprehensive, actionable advice on business, technology, and regulatory issues and their impact on the financial services industry. With expertise in banking, payments, insurance, wealth management, and the capital markets, we guide financial institutions, technology providers, and consulting firms worldwide. We partner with our clients, revealing their blind spots and delivering insights to make their businesses smarter and stronger. Visit us at www.aitegroup.com.
Source: Aite GroupTags: Aite Group, benchmarking, Jay Sarzen, outlook / predictions, Property/Casualty (P&C) insurance, Silicon Valley Insurance Accelerator (SVIA), Transformation