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Forrester: The State of Digital Insurance, 2021
Insurtechs have slowly been disrupting the industry, putting increased pressure on incumbent insurance companies to deliver better and more competitive customer experiences. As a result, many insurance organizations have prioritized their technology agendas and ushered in a new era of digital offerings, but often unsuccessfully. Some insurance businesses have tried to adopt new technologies without an underlying strategy, creating inefficiencies to existing processes and costing companies valuable time and talent.
The companies that have been successful are those that evaluated their tech gaps and opportunity areas for innovation, and worked with digital partners to design processes and implement solutions that create a better customer experience. Initiatives and capabilities like design thinking, customer journey mapping and lean process mapping help organizations create human-centric technology solutions that address their evolving customer service needs.
Forrester’s The State of Digital Insurance, 2021 report explores how digital technologies are changing the industry’s customers, competitors, products and operations, focusing on three key themes:
- COVID-19 increasing insurers’ digital urgency
- Agility and innovation as the top drivers for insurance transformation
- Insurers digitizing the customer lifecycle end-to-end
Download the full report to learn how the right partner can help companies design, build and manage digital customer experiences in the context of digital transformation.