86 percent of insurance companies in Europe expect customer behavior to change after the COVID 19 crisis – in some cases fundamentally. In particular, the demand for digital products and services will increase. A recent survey of European insurers conducted by Information Services Group (ISG), also shows that this change in customer behavior will lead to upheavals in the business ecosystem of service providers and accelerate technological innovation. According to the ISG survey, COVID-19 is a clear wake-up call. Failure to listen to the message could put your business at risk.
290 executives in the European insurance industry were interviewed. The survey provides deep insights regarding the following questions:
- Is the crisis also changing the role of IT services?
- How can IT solutions help to best address current and future risks?
- Will online and direct insurance continue to gain momentum?
- Will the customer experience change? Will there be new products?
- In short: What does "The New Normal" look like in the insurance industry?