While the overwhelming majority of insurance industry executives recognize that major market changes are afoot, only about one in four are engaging in true digital transformation of their business. But those “Digital Transformers” are projecting twice the growth (7.8 percent) of their less digitally aggressive competition (3.9 percent).
Differences between Digital Transformers and Digital Followers are showing up in a variety of ways. For example, only 25 percent of insurers have a single view of the customer and see customer-centricity as critical strategic imperative. And a mere 22 percent see cloud technologies as important to their business.
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