MATT HUTCHINS | Partner, Capco
ERNST RENNER | Partner, Capco
Even before the advent of COVID-19 the insurance industry was undergoing rapid transformation, with many firms putting plans in place to meet the needs and expectations of tomorrow’s customers. There was already growing demand for insurance products that are tailored, flexible, and available anytime, anyplace at a competitive price.
As for so many industries, COVID-19 has proved an accelerator, forcing insurers to escalate change programs to ensure they can continue selling their products and services in an environment where face-to-face interactions have been significantly curtailed. New entrants are further spurring innovation, establishing new paradigms for customer experiences, and reshaping the competitive landscape.
In this article we highlight the key findings of Capco’s 2021 survey of consumers in 13 major markets globally, which confirms that the future of the insurance will be personalized, digitalized, and connected.