A Gradual Revolution: Evaluating Digital Transformation in the Insurance Industry
Arguably, the insurance industry in Europe and across the globe has always been a follower rather than a leader in the adoption of technology, with the rolling out of innovative practices, such as digital channels and process automation, being belated – and even resisted – by many insurers. As a result, digital transformation in insurance has been a very gradual, ongoing revolution.
Despite insurance’s ‘laggard’ status, however, there has been significant activity in the way of digital transformation throughout the industry since the mid-2000s. This white paper from EPAM’s Banking, Financial Services and Insurance (BFSI) Practice chronicles this activity from the following angles:
- Examples of Present-Day Digital Transformation
- The Impact of Digital Transformation
- Digital Transformation and the Fragmented Value Chain
- The Political Response to Digital Transformation
Download the complete white paper to explore the latest developments in the insurance industry’s gradual revolution toward digital transformation.