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.