Digital Transformation in Insurance: Current Benchmark and Future Roadmap

The latest Aite Group research found that cloud-based technologies and big data are getting close to maturity, with 81% and 71% of insurance carriers, respectively, committed to using these tools to support data-driven objectives.

Boston, September 17, 2019  — With so many processes and functions along the value chain to update and conform to digital, insurance carriers across the globe have been spread thin in their efforts to transform. Keeping with standard insurance practice, strategies have been developed at all points across the organization without collaboration, creating little value and minimal return on investment. Aite Group’s new report, Digital Transformation in Insurance: Current Benchmark and Future Roadmap, will help carriers understand where they are in their transformation countdown and whether they will be left behind.

“We found that more than half (58%) of insurance organizations surveyed are utilizing partnerships with startups as a resource for digital transformation, and the number of partnerships is expected to grow to 77% by 2020,” states Samantha Chow, senior analyst at Aite Group.

This research is designed to provide insurance carriers a benchmark of where the industry is on the digital transformation scale. The analysis is based on an online Aite Group survey—conducted in partnership with SVIA—of 48 insurance carriers, brokers, and agencies across the globe.

To request a press copy of this report or to speak with Samantha ChowJay Sarzen, or Inci Kaya about this topic, please contact us at pr@aitegroup.com.

About Aite Group:
Aite Group is a global research and advisory firm delivering comprehensive, actionable advice on business, technology, and regulatory issues and their impact on the financial services industry. With expertise in banking, payments, insurance, wealth management, and the capital markets, we guide financial institutions, technology providers, and consulting firms worldwide. We partner with our clients, revealing their blind spots and delivering insights to make their businesses smarter and stronger. Visit us on the web and connect with us on Twitter and LinkedIn.

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