Forrester Report: The Future of Insurance

Digital Insurance Is Evolving at Warp Speed

The insurance industry is changing at a continually increasing pace. The pillars of brand, price, and product are being disrupted by traditional and non-traditional competitors.

With digital transformation a necessary but seemingly difficult step, what can organizations do?

Insurers around the world are now thinking about pivoting to digital-first. Learn about the trends driving this new mindset and unprecedented change by downloading the Forrester report, The Future of Insurance, today.

The Future of Insurance is Agile

With customers demanding better online and mobile digital experiences along with more value from suppliers, insurers are under increasing pressure to radically rethink how they interact with and retain customers over the next decade.

According to Forrester, insurers must “build elastic roadmaps to adapt to continuous disruption.” Agile thinking is one way to get there. The report notes that “the core precepts of agile and design thinking incorporate both speed, flexibility, and resilience into strategic roadmaps.” Mendix was founded on agile design principles and can help insurance organizations innovate without needing to rebuild your whole ecosystem.

Read the report to learn how a customer-focused mindset will benefit insurers for the short- and long-term, and how the right digital platform matters when trying bring best-in-class solutions to market faster and more easily. Some topics covered include:

  • Customer experience – “Tomorrow’s insurers will leverage extensive product portfolios in a one-stop shop that will elevate customer experience.”
  • Translating vision to execution – “For digital insurance initiatives to deliver the expected outcomes, digital executives need a vision that moves their firms from experimentation to delivering business outcomes.”
  • Improving processes with data – “devices [such as wearables] can help insurers leverage real-time data to provide outcome-based services for their customers and improve the underwriting process.”