Legacy giants and small players alike believe the rapid rise of innovation within the insurance industry will pave the way toward personalization and customer-centricity. (Image: Shutterstock)
Last year's series of extraordinary events have forced insurance, a notable digital laggard, into action. Experts claim that the insurance sphere has experienced the equivalent of five years' worth of digital acceleration in a matter of months, having adopted a remote workforce, developed new digital customer journeys and embraced AI and data-driven technology. Importantly, this trend looks likely to stick, with IBM predicting that insurers are now on a mission to use this tech to shape a more human approach to their service.
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