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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.