Rapid Digitalization: The Winners and Losers
A year after COVID-19, it’s clear that insurers are waking up to the need for digital transformation. Rapid digitalization is transforming the economy and society. Some sectors are being disrupted more than others.
With global GDP expected to slow down in 2020, insurance companies are looking for other ways to boost revenue. And even though most people might not associate digitalization with the insurance industry, in a very short time span since COVID-19 coverage started hitting the news, both insurer and reinsurer platforms have been rapidly migrating away from their legacy systems and toward modern, integrated digital solutions that leverage the power of cloud computing.
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