The 10 digital insurance trends to take into account for 2021Jan 10, 2021

From dematerialization to personalization and experience and beyond, here are the top 10 digital trends for insurance.

The insurance sector is one of the most important and diverse productive sectors of the world economic system. It’s a strategic sector, one that has many points of contact with the public and with individual health, a side that, as is evident, has jumped to the center of public debate, especially given the difficulties facing many parts of the world in the wake of the pandemic. But that’s not all. We are talking about a sector that has seen its processes and dynamics radically evolve in a relatively short time.

The insurance industry has experienced a real revolution, triggered by two main thrusts:

• Digital Transformation, which has changed the face of all sectors, but also of society as a whole (the Insurance Industry is no exception);
• A general and marked trend towards market liberalization, with the emergence of new players (of different sizes), and an unprecedented amount of choice available to users. All of this, as a consequence, has brought a paradigm shift. Today, the insured has become the real center of business. It is a business that becomes more and more personalized.

Essentially, we are talking about digitization and personalization.

But the most important thing to keep in mind is that these two factors are continuous. They are two drivers that are producing constant innovation in the dynamics of this sector. That is why, today more than ever before, it is necessary to keep an eye on the future, constantly, to discover the new digital trends for insurance before the competition. To give you a hand, we have collected 10 of the most promising trends that insurance companies will be facing in the coming year.

1. Digital document management
2. A modern IT architecture
3. The growth of SaaS
4. The turning point of IoT
5. More and more data-driven
6. AI and Machine Learning
7. The future is personalization
8. Gamification
9. Virtual Reality
10. DLT and Blockchain