Self-Service and Digital Premium Payment Rates in Insurance: 2023 Update

Report Summary

Self-Service and Digital Premium Payment Rates in Insurance: 2023 Update

Self-service enablement and adoption rates vary substantially by line of business.

Harry Huberty
Head of CIO Research
Martina Conlon
Head of Property & Casualty Insurance
Robert McIsaac
Executive Principal

April 25, 2023 – Technological and demographic factors are moving the insurance industry toward greater support for and adoption of self-service capabilities. Traditionally, intermediated lines such as standard commercial, specialty, and annuities see fewer self-service capabilities than commoditized lines such as personal, auto, and homeowners’ insurance. This is beginning to change, with agent capabilities more and more the norm for all lines.

This Impact Report provides an overview of self-service transactions in insurance and tracks utilization rates for agent, policyholder, and digital premium payment transactions for seven major insurance lines of business. This report is based on a survey of and conversations with 57 insurer CIO members of the Aite-Novarica Group Insurance Technology Research Council conducted in the first quarter of 2023.

Clients of Aite-Novarica Group’s Life, Annuities, & Benefits and Property & Casualty services can download this report.

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