Summary
Customer experience (CX) priorities in insurance are evolving rapidly as the industry adapts to the experience economy and post-pandemic realities. This report examines the most pressing challenges facing insurers, including digital transformation, competition from insurtech and fintech companies, and the need to reduce operational costs. It explores how insurers are responding to shifting customer expectations, the rise of hyper-personalisation, and the demand for innovative insurance products such as micro-insurance, on-demand coverage, and new risk categories like cybersecurity and pet insurance. The report details how digital innovation—spanning automation, artificial intelligence, data analytics, and cloud adoption—is reshaping customer journeys and enabling seamless omnichannel experiences. It investigates the role of ecosystems, partnerships, open insurance, and embedded insurance in reducing friction and expanding market reach. Key questions addressed include: What are the top CX priorities for insurers in 2023? How can insurers maximise customer data to personalise offerings? In what ways are AI and automation transforming claims and underwriting processes? What strategies are leading insurers using to redesign workflows and deliver proactive, 24/7 support? How can incumbents compete with agile insurtech startups and meet the needs of digitally savvy customers? This report is essential reading for insurance executives, CX leaders, and technology strategists seeking to understand the trends, technologies, and business models shaping the future of customer experience in insurance.
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