More than one-third (34.2%) of customers said they are likely to adopt smart ecosystems, and 36.9% of insurers said they want to be among the first-movers in the use of connected devices

Insurers must develop InsurTech capabilities – real-time data capture at the customer interface supported by advanced analytics tools – to enable real-time insights and digital execution to allow streamlined operations.

Intelligent automation of processes is high on insurers’ priority lists.

BigTech firms – large, multinational technology corporations, such as Amazon, Alphabet/Google, Apple, Facebook, and Tencent – are taking slow and measured steps toward establishing a presence within the financial services sector.

Four distinct phases for a firm’s automation journey: creating a vision and garnering leadership support, piloting intelligent automation, scaling up, and industrializing intelligent automation.