The digital revolution
Traditional jobs will gradually be replaced by digital tools designed to facilitate the lives of the insured. It is estimated that in the near future, almost 50% of current jobs will be automated.
The insurance industry will not be exempt from this phenomenon that will fundamentally change both policyholders’ behavior and the organization of insurers. Nothing will prevent future customers from getting an online quote, underwriting an insurance policy, reporting a claim from their digital tablets, and monitoring their payments via their smartphones.
Insurers, who are now endowed with a computer system composed of a set of heterogeneous applications, will be struggling to cope with new challenges; hence the utmost urgency of a new technological governance that shall impact all business and company employees.
Monumental challenges lie ahead: electronic trade, "time to market" reduction, optimal management of all sales channels in particular, internet, mobility, immediacy, remote consulting, and customized solutions.
The inevitable transformation of the insurer-insured relationship based on the technology of "fast data" and expert systems has to allow the processing of all available data to provide instant and relevant solutions to highly volatile, invisible customers, in search of low-cost products.