For many carriers, the entry into digital boils down to creating new efficiencies in specific business processes such as underwriting and claims evaluation. (Shutterstock) For many carriers, the entry into digital boils down to creating new efficiencies in specific business processes such as underwriting and claims evaluation. (Shutterstock)

Digitalization is at the forefront of insurers’ minds when it comes to adapting to a changing market, but the means of achieving meaningful transformation can be tricky. Carriers’ first inclination is to turn to high-tech solutions to streamline processes that are in obvious need of upgrading. From optimizing underwriting to improving the customer experience, and harnessing insights from the troves of data insurers collect to unlock new value, digitization can take many forms. And that’s part of the problem.

Too many insurers see digitization as the route to solve specific business problems without realizing that it must be the core of a holistic framework for smarter and more efficient business models across all departments and operations.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

 

PC360 Evolving Risk Summit 2023Event

A Conference Designed to Help Insurers and Risk Managers Stay Two-Steps Ahead of Property & Casualty Evolving Risks.

Get More Information
 

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2023 ALM Global, LLC. All Rights Reserved.