Across industries, digital transformation is evolving thecustomer experience and redefining how companies do business. Butwhile the path to digital opens new avenues to customer engagementand a better bottom line, it also introduces adaptive challengesfor enterprises that must evolve their outdated operatingmodels.

Some industries — such as retail andentertainment — tend to have internal infrastructures thatsupport a rapid shift to digital. Other sectors find thetransformation more challenging due to industry-specific hurdlesinvolving tech readiness and internal cultural preparedness. Theinsurance industry falls into this latter category.

But for insurance enterprises, digital transformation hasreached a hinge moment. Today, it's no longer a question of whetherinsurers will pursue a digital strategy; it's a matter of what thatstrategy will look like. Without prioritizing digital innovation,insurers risk losing the competitive edge in a market increasinglydriven by customers' expectations of a highly engaged, customizable and personalizedexperience. But to meet these expectations, insurers mustconfront industry-specific challenge with a strategic approach.

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