Outwitted, outpaced, outperformed… tough choices for IT as digital transforms insurance into an information industry.

Blog article by Julie Morling (Digital Transformation Conversations blog)
Insurance does not enjoy an enviable position in  people’s perceptions. For many, it is simply a necessary evil – a product we all need but very few of us are inclined to see as more than something we want to get at the right price (which usually means as cheaply as possible for the cover we need).
However, the advent of digital is changing the way we buy.  Customers seeking convenience, flexibility and high standards of quality and customer care can now readily shop around, compare prices and experiences and find different ways of sourcing  insurance. For example,  aggregators enable quick and easy comparison of prices and features.  Social networks offer new opportunities to reinvent the mutualisation of risk. And innovators in other industries are bundling insurance products into service packages, such as, for example, car insurance as part of an overall “pay as you drive” package.

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