Even for insurers that offer both personal lines and commercial coverage, organizations have made greater strides in becoming digital personal lines insurers.
Many insurers begin their digital transformation by focusing on the process of selling, including distribution and quoting. Typically, that's followed by a focus on claims, then underwriting.
No insurer can pursue all digital initiatives, so it's wise to choose a path that emphasizes one approach over another.
A survey on digital maturity aims to allow insurers to compare themselves to competitors and peers. It also allows them to look beyond their sector or industry to better assess their digital progress.
The four components include using data for real-time insights, creating organizations that are agile, using those capabilities to focus on customers and pursuing innovation.
