With consumers welcoming digital transformation in the property and casualty insurance sector, are commercial clients soon to follow?
Commercial insurance is a high-touch market serving businesses with complex needs. This not only makes B2B clients more reticent to use automated tools; it also makes digitization more difficult for providers.
But there is undoubtedly value in automation, especially in streamlining tasks for the insurer’s middle and back office. Commercial insurance providers can harness the power of digital to improve their bottom line while maintaining the relationships and customization expected by small and mid-size businesses.
In this paper, we examine how commercial insurers can reimagine the business in a digital world, and where they should begin their (r)evolution to gain the most value while remaining a client-centric business.