There is little consensus in the insurance industry on what exactly is included in “digital strategy.” Most insurers typically mean agent portals, customer portals, corporate sites and online marketing. Some also include digitizing and optimizing internal business processes.

In the broadest sense, digital represents an evolution of the business and how it touches and interacts with customers and other stakeholders during moments of truth. New expectations are that insurers and their agents and brokers will be real-time, ever-present and always adapting. Insurers have historically been none of the above. Failing to address this expectation head-on has the potential to leave organizations increasingly irrelevant.