Articles & Trend Reports

How Digital Innovation is Reshaping the Insurance Industry

Posted on 11 Nov 2020

The number one trend affecting all businesses is digital transformation. The metamorphosis of expectations are being driven by companies like Amazon, Apple, Netflix, DoorDash, and Venmo, that offer transparent, immediate, and embedded payments experiences. Consumers have embraced fully digital interactions, which are laying bare the shortcomings of non-digital experiences such as paper billing and check payments.

Of course, the pandemic is driving more customers to digital transactions. What the industry was expecting to evolve over the next 1-3 years has instead increased in momentum in the last year.

As a result, it’s time to look at the end-user not just as a policyholder, but as a customer. In a recent webinar, experts from Aite Group and Alacriti discussed how digital innovation is reshaping payments in the insurance industry. This article explores this topic further.

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