CATALYZING THE SHIFT TO DIGITAL INSURANCE 2.0
The trends Majesco has tracked over the last three years are now becoming reality. While customer demographics and expectations, emerging technologies and data, and the growth of InsurTech have had a majority of the focus, one area has acted as a catalyst for the shift to Digital Insurance 2.0: Platform Solutions.
New entrants are rapidly changing the business assumptions, business models and go-to-market approaches for insurance through the use of a platform solution.
Digital Insurance 2.0 platform solutions reach beyond a traditional Insurance 1.0 model via:
- Digital engagement
- Ecosystems with access to unique capabilities and data sources
- Artificial intelligence & machine learning
- Cloud computing
Benefits of migrating to a platform solution include:
- Speed to value
- Unique customer engagement opportunities
- A test-and-learn environment for minimal viable products
- Lowered operational costs
Download the Future Trends 2018 report to learn more about how platform solutions are fueling the shift to Digital Insurance 2.0.