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Insurance companies should prioritize technologies that are easy-to-use to create seamless workflows for employees and enhanced experiences for customers. (Photo: Shutterstock) Insurance companies should prioritize technologies that are easy-to-use to create seamless workflows for employees and enhanced experiences for customers. (Photo: Shutterstock)

The insurance sector continues to be a tech laggard — even as customer demand for digital services grows and digital transformation efforts in other industries have accelerated. According to Boston Consulting Group’s Annual Digital Acceleration Index, a tool to measure companies’ digital maturity, insurance scored an average of 47 out of 100, 14.5% lower than the average DAI score of 55.

Customers have come to expect a more seamless digital experience when interacting with companies. In fact, according to McKinsey, there is a 20% increase in customers’ preference for contactless operations. Insurance companies simply cannot afford to be tech laggards any longer, or they risk being disrupted by digital-first competition that will easily acquire their existing customer base.

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