Why the Insurance Industry needs to Digitalise - Fintech Singapore

Digitalisation benefits the entire insurance industry. From simplifying complex policies and streamlining approval processes, digitalisation can have a positive impact on all parties including customers, agents and brokers. On the internet, 80%1 of local financial research is largely centered on insurance policies as customers gather more information before committing to a purchase. As a result, it has become crucial for insurers to provide a strong digital experience for customers. However, a recent global study found that over 58%2 of senior-level executives in the insurance industry believe they are behind other financial services when implementing digital technologies.