t’s no secret that for years the insurance industry has lagged behind other industries when it comes to digital transformation. Only five years ago McKinsey ranked healthcare near the bottom in their Industry Digitization Index. Since 2015, major players in the healthcare and insurance industries have worked to improve their digitization efforts but still remained woefully behind.
Then the COVID-19 pandemic hit.
The current crisis is rapidly highlighting just how well previous efforts to digitize were going. Companies who had already embraced a culture of digital innovation and had begun exploring, if not implementing, technology have already proven more successful during this sudden and dramatic shift.