Embracing Innovation and Growth Opportunities in P&C Insurance
A Report by Capgemini and Majesco
A perfect storm of cultural, demographic, and global pressures is changing policyholder behaviors and business models to create demand for new P&C risk products and value-added services. Today’s policyholders also demand personalized, consistent, transparent, and convenient customer experiences, from sophisticated price quoting to fast claims processing. To compete, insurers must prioritize innovative new products underpinned by real-time data and technology.
Read the latest joint report from Capgemini and Majesco to better understand the recent industry changes and the six key focus areas insurance firms can leverage to succeed, including:
- Price the Real Risk: Leverage data and advanced analytical techniques to improve the granularity, accuracy, and agility in underwriting and pricing.
- Flatten the Loss Curve: Focus on reducing the frequency and severity of loss incidents by leveraging new technologies such as IoT and blockchain
- Sell Digitally: Align to customer expectations and design and implement seamless purchase journeys
- Operate Touchlessly: Deploy AI-driven automation across the value chain to reduce cost and cycle time and provide superior CX
- Modernize Data Estate: Adopt a data-driven approach, leveraging analytics and AI/ML to innovate across the Insurance value chain
Build Future Enterprise: Optimize cost with Inventive IT operating models and building cyber resilience, agility with cloud