Insurers are reorienting their IT operating models to reduce costs and unlock efficiencies and also weaponizing technology to simplify and improve consumer experience; however, digital talent is in short supply.
The coronavirus pandemic has dealt a hard blow to the insurance industry, and the economic outlook for the near term is still uncertain. In addition to facing revenue and profitability declines, insurers must now deliver compelling online experiences to sustain and grow their customer base. Everest Group reports that IT investment maturity is playing a crucial role in insurers’ recovery strategies, particularly as they battle to reduce costs and digitally innovate at the same time.
