Digital Agility Maturity
To enhance digital agility, it will be important for insurers to build synergistic InsurTech capabilities at all operational layers―real-time data capture at the customer interface supported by advanced analytics tools―to enable real-time insights and seamless digital execution.
When it comes to readiness for real-time data capture, the focus of P&C insurers in implementing complete front- and back-end systems is higher (18.3%) than life insurers (10%) and health insurers (12.5%). A greater proportion of life insurers (40%) and health insurers (42.2%) are currently in the phase of allocating budget and making investments to build real-time data capturing capability. In terms of adopting tools for real-time data capture, P&C insurers prefer telematics the most while life and health insurers leverage social media platforms the most.
World Insurance Report 2018
The World Insurance Report 2018 from Capgemini and Efma highlights the need for insurers to enhance digital agility to deftly respond to market shifts and evolving customer expectations and stay ahead of BigTech competition. The report suggests a framework for a digitally-integrated ecosystem that will help insurers become future-ready. ‘WIR 2018’ is available online, now. Take a look…for in-depth forward-looking analysis and detailed industry assessment.Download now