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Insurance has progressed from an age of information in the 1990s to today's age of the digital customer. (ALM Media archives) Insurance has progressed from an age of information in the 1990s to today’s age of the digital customer. (ALM Media archives)

Lack of innovation is the biggest complaint that risk managers have about the insurance industry, according to Airmic’s 2019 survey. But the good news is that increased digital transformation in insurance is helping some organizations to introduce efficiency, better customer service and general modernization to an industry weighed down by legacy technology and operations. This innovation is critical for today’s large incumbent insurers who are facing a greater threat from new challengers big and small.

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