Majesco
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THOUGHT LEADERSHIP

Insurance in the Digital Age: Transforming from the Outside–In

The insurance industry is in the midst of profound change fueled by trends that are converging and pushing a sometimes slow-to-adapt industry into the digital age. This seismic shift is creating leaps in innovation and transformation, while challenging the traditional business assumptions, operations and processes of the last 30-50 years.

For insurance, the shift is moving from product-driven to customer-driven strategies; from limited distribution channels (such as agents) to an array of channels based on customer choice; from line-of-business silos to customer centricity and customer experience for all products across all lines; from simply containing risk to proactively providing personal risk management; and from siloed solutions focused on transactions to a platform portfolio that bridges together real-time interaction for all products and services for a customer, giving them an Amazon-like experience.

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