Digital transformation and disruptive innovation for insurance companies have become immediate-term strategic action items instead of being vague futuristic concepts. Factors including new competitive threats, ongoing cost pressures, ageing technology, increasing regulatory requirements, highly labour intensive and predominantly "product push" sales process, 'one size fits all' mind set, and lacklustre financial performance are leading to adoption of new business models by insurers. In such an environment, digital transformation offers insurers an opportunity to "rethink" their business operations to'achieve the triple prize of customer delight, lower costs and higher profitable growth' by reimagining insurance operations from a zero base, bolstering customer satisfaction, and reducing costs and errors. This can be made possible by focussing on digital transformation across the insurance value chain with specific thrust on leveraging recent advancements in technology including: Omnichannel: It is quite common for any consumer to start researching products online, recommending and talking about them with friends and contacts on social media, and then buying them via mobile apps or through agents or at brick-and-mortar branch locations. A better omnichannel environment may also enable insurers to place new products in front of potential customers sooner and more directly than in the past.