In the evolving world of insurance technology (insurtech), it’s becoming increasingly clear that legacy companies play a significant role. Contrary to the common belief that new, agile startups are the true pioneers, it appears that established firms are making substantial strides in this sector.
The latest insights indicate that successful technology transformations focus on delivering outcomes that are both measurable and meaningful to customers. This means that rather than just introducing new tools, companies are prioritizing changes that lead to tangible improvements in customer experience and service delivery.
Prominent legacy companies in the insurtech space are adapting by integrating advanced technologies with an emphasis on customer-centric outcomes. These companies often have the advantage of experienced teams and established relationships, allowing them to implement changes more effectively than many startups.
This shift highlights the potential benefits for customers who are looking for reliable service and meaningful interactions with their insurers. If legacy companies can successfully leverage technology to enhance customer experience, it could lead to improved satisfaction and trust in the industry.
This trend suggests that innovation in insurtech doesn’t always come from new entrants; rather, it can also arise from the foundations laid by long-standing firms. By focusing on outcomes that matter to customers, legacy companies may redefine what it means to be an insurtech leader.
Original Source: https://www.dig-in.com/opinion/the-best-insurtechs-are-legacy-companies