Model Insurer 2018: Case Studies in Digital and Omnichannel
Key research questions
- What would it look like for an insurer to do everything right with today’s technology?
- What are some best practices and measurable business results of technology projects in digital and omnichannel initiatives?
- What can insurers learn from the digital Model Insurer initiatives?
Celent recognizes five companies with a 2018 Model Insurer Award in Digital and Omnichannel
- Acuity Insurance
- IndiaFirst Life Insurance Company Ltd
- Cake Insure
- Sompo Japan Sigorta
This report highlights five outstanding implementations of digital strategies by insurers — which resulted in reduced costs, faster cycle times, and better customer experiences. This year’s winners were a mix of property/casualty and life insurers. As a group they focused on innovating their new business and distribution processes
Celent has a simple one-sentence definition of digital:
- The move from the physical to the virtual world, from person-to-person interaction to person-to-machine or machine-to-machine.
Omnichannel may be defined as a set of systems and capabilities providing a single version of the truth:
- Regarding all relevant parties’ interactions and statuses across all relevant data sets.
- Available anytime through any channel via any device.