Drivers of Digital Agility

Several environmental, technological, and organizational factors are disrupting the industry and pushing insurers to become more nimble, innovative, and responsive. Evolving customer preferences are spurring the need for enhanced digital agility, according to insurers across sub-sectors (life, health, and P&C), with more than 80% rating "changing customer preferences" as very important. Rising pressure on margins, emergence of new business models, and changing market dynamics were also rated as strong drivers for the need to enhance digital agility.

Drivers of Digital Agility

Digital Agility Framework

While insurers have begun to adopt emerging technologies and innovate across the value chain, a sustainable, holistic approach to digital agility will rely on investment in synergistic InsurTech capabilities at all layers of the business. Digital agility will be enhanced by a synergistic mechanism that captures real-time customer data and quickly converts it into actionable insights with seamless digital execution. While real-time data helps build a rich customer database, real-time insights and digital execution enable delivery of innovative, timely, and personalized services.

Digital Agility Framework