Digital Benchmarks for Insurers Across the Enterprise

Report Summary

Digital Benchmarks for Insurers Across the Enterprise

October 2018 - This report provides benchmark data on deployment and pilot activity for digital capabilities that are commonly considered to be part of a comprehensive digital strategy. The capabilities included in this study span marketing, distribution, underwriting, customer engagement, billing, and claims. It also provides benchmark data on digital investments and summary case studies of successful initiatives.

Topics Covered

  • Current deployment rate of digital capabilities.
  • Current and planned pilot activity to help insurers understand how soon emerging digital capabilities will become table stakes.
  • Digital spending ratios in insurer IT budgets.

Key Points and Findings

  • Digital distribution capabilities are widespread, but maturity levels vary. Nearly all insurers have transactional agent portals, but only about a third consider their capabilities mature.
  • Insurers are piloting customer engagement, claims, and billing capabilities at high rates. Large insurers are also exploring IoT data capture and other emerging technologies.
  • Proliferation of channels creates additional complexity. As insurers consider expanding from Web and mobile to new channels like voice, additional complexities in content management and cross-channel consistency of experience will arise.

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