ANALYST MATERIAL
Customer Needs Won’t Wait; Make System Modernization Part Of Your Digital Transformation Agenda
The COVID-19 pandemic called for an acceleration of digital transformation initiatives never seen before as organizations scrambled to shift to a remote working environment amid country lockdowns of varying scales. Digital channels became the default mode for customer interactions, and the APAC insurance industry was no exception as more customers engaged with their insurers virtually and performed transactions online.
The increase in digital adoption through the pandemic accentuated APAC insurers’ struggle with legacy systems, highlighting the importance of system modernization. Our study of 114 system modernization decision-makers and influencers in the APAC insurance industry sheds light on the typical modernization journey, as insurers recognize its positive impact on customer satisfaction and long-term business success.
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