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IDC Financial Insights: Worldwide Insurance Digital Transformation Strategies

Customer experience is high on the agenda for most insurers and intermediaries as customers expect true value for the premiums they pay, above and beyond the traditional products and services delivered to them. To continue to be relevant in a changing marketplace, insurance organizations across the globe need to deliver contextual and value-centric insurance that is rooted on the principles of proactive risk management and secure, transparent, seamless, and contextual engagements across the customer journey. To achieve this, the industry needs to accelerate its effort to transform from a traditional, product-centric mindset to a customer-centric mindset enabled by digital technologies and the power of data and analytics. Insurance organizations need to increasingly play the role of true risk advisors rather than mere product sellers. As they progress in their transformation journey, they need advice and guidance to understand the opportunities and possibilities with the new technologies and to build and deploy digital capabilities while also tackling existing barriers to change.


Approach

The IDC Financial Insights: Worldwide Insurance Digital Transformation Strategies advisory service provides clients with insightful information and analysis of global insurance trends. It also provides coverage of how digital technologies like Big Data, analytics, cloud, mobility, IoT, blockchain, and cognitive technologies impact the life and annuity, accident and health, and property and casualty insurance markets. The service offers timely, strategic, and actionable business IT and application advice to guide our clients as they undertake digital investment decisions, plan for future technology needs, and benchmark themselves against competitors. It provides ongoing research reports, analyst access, and admission to content-rich conferences and webcasts for the benefit of insurance organizations as well as technology vendors.


Topics Addressed

Throughout the year, this service will address the following topics:

  • Strategic digital priorities, programs, and the use cases for the insurance industry
  • Digital transformation use case horizons or road map definition and industry best practices for digital initiatives
  • State of digital transformation in European and North American insurance
  • Industry investment trends to enable connected and cognitive insurance
  • Delivery of omni-experience engagement and usage and value-oriented offerings leveraging open and connected ecosystems
  • The impact of the Internet of Things, cognitive computing, cloud, analytics, blockchain, and smart contracts on the industry

Key Questions Answered

Our research addresses the following issues that are critical to your success:

  • What are the implications of changing customer preferences on various insurance business models?
  • Which digital technologies are insurers investing in to transform their businesses and what are the implications?
  • What are the approaches and best practices to deliver digital transformation in insurance?
  • How can insurers leverage cloud, analytics, Internet of Things, blockchain, and cognitive technologies to make better-informed decisions or manage their risks?
  • How is the connected insurance ecosystem evolving?

Who Should Subscribe

The IDC Financial Insights: Worldwide Insurance Digital Transformation Strategies advisory service provides C-level executives and divisional heads within insurers and diversified financial institutions as well as insurance technology vendors and consultants with strategic advice and timely data. Our continual interaction with our clients assists them in making better-informed decisions to improve competitiveness and operations.


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Meet the Experts
Sabitha Majukumar

Senior Research Analyst, Worldwide Insurance Strategies