Could COVID-19, in fact, create the tipping point for digital transformation? This is a question that is raised in a recent article that investigates if and how the pandemic is fast tracking insurance digital transformation.
According to Mark Breading, a Partner at SMA, a recognized expert in advanced technologies and their implications for the insurance industry, the demand for self-service digital interaction capabilities will increase significantly, both from a sales and service perspective. He indicates that it essential to look at existing transformation plans and IT projects and assess how these might change in the short and long term.
Some of the areas include:
| ● | Digital interaction capabilities |
| ● | Internal operations and employees |
| ● | Cyber-risk |
“The more that people and businesses get used to operating remotely via digital tools, the more it will be expected – even after the virus is contained”, Breading mentions.
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