Insurers have historically been relatively cautious about embracing digital transformation. More recently, they have started to accept that they need to adopt new digital technologies at a faster rate to change not only how to identify insurance needs but to succeed in the post-COVID-19 world. Digital transformation requires insurers to change the way they have traditionally provided insurance to their clients. Capco believes it requires a fundamental rethink of the organization, the revenue and efficiency goals, and ultimately the business model.
This paper provides an overview of the importance of digital transformation, focusing on the cloud and why you must consider it. It targets insurance CIOs, digital insurance leads, and IT & digital transformation sponsors.