Today’s technologies can help insurers improve processes in every operational area, yet many carriers are still struggling to determine where the changes are most needed and the right technology to support those changes. In fact, a recent digital transformation survey for the insurance industry showed that not having the right tech to stay ahead of the competition has caused project lengths to extend by two to three months for 30 percent of insurers, four to six months for 35 percent, and even as long as seven to 12 months for others (15 percent).
The bottom line for insurers is that they can’t afford to delay projects that impact their profitability.