Going Digital

We've been talking about the topic for many years now. Aren't we done yet? Can't we move on?  In fact, we are just about done -- almost all insurance operations have incorporated digital technology. So, yes, it's time to move on to the next stages of the industry's remake.

Most insurers are still spreadsheet-bound and, as a result, hard-pressed to make any progress outside of their spreadsheet environment.

Applications to establish businesses surged in 2021 in the insurance industry, driven by changes in behavior during the pandemic, and will likely stay strong. 

While investment slowed in the early phases of the pandemic, it rebounded strongly in 2021: Levels during the first half equaled the total for all of 2020. 

Read Majesco's latest research to better understand the important changes in insurer's strategic priorities which are fueled by growing customer expectations and defined by three digital eras.

The assumption about technology is that progress comes fast: Because electrons move at the speed of light, changes driven by technology must, too. But that's often not the case. 

Changes in customer behavior are creating a series of “from – to” shifts that have huge implications for billing and payments and require a quick response.

Four lessons from Amazon's Web Services relevant to all of us driving innovation in the insurance enterprise.