Contrary to the impression that insurance is a relatively conservative industry, 61 percent respondents in the industry said digital was an opportunity, not a threat. Seven out of 10 CEOs confirmed plans to invest in digital infrastructure within the next three years.

According to the respondents from the insurance industry, big data for customer insight and wallet share, cyber security for data protection and compliance, artificial intelligence for underwriting automation, and technology for business rules extraction are the top trends for the next three years which will make a positive impact on their organization.

The top three digital technologies being utilized by insurance companies are:

  • 66% Cyber security
  • 65% Big data analytics
  • 58% Enterprise cloud

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Insured, Digitally