The insurance industry is on the cusp of disruption and insurers must adapt, align and transform to the evolving landscape in order to stay resilient, relevant and emerge as successful market leaders.

Insurers across the globe are facing significant challenges in the likes of rapidly evolving mobility trends, changing customer expectations and increasing competition from Insuretechs, Auto OEM’s which is shaking the very foundation of traditional business models. The industry is also faced with tremendous hurdles including a global pandemic, inflation, climate change, labor issues, political and civil unrest, which has had significant impacts on various areas like fuel & repair costs, global supply chains. Besides these concerns, insurance organizations often find it difficult to embark upon their digital transformation journeys owing to legacy ecosystems, rising cost of operations, extensive data volumes and cyber threats.

In the constantly competitive and dynamic market, insurers must act proactively and with great agility to surpass the competition, achieve sustainable growth and secure the competitive edge.