Three out of four people in the U.S. do not answer calls from unidentified numbers. (Shutterstock) The insurance industry is facing a massive shift in customer expectations due to evolving technologies and uncertain economic conditions. And while the sector is seen by some as moving forward sluggishly with digital transformation due to the legacy systems and paper-based manual processes, the 2023 Gartner CIO and Technology Executive Survey revealed that over half of insurance CIOs are increasing technology investments in 2023. As a result, more insurers are seeking to capitalize on the opportunity to leverage digital transformation to modernize their business and provide a better customer experience. There are many market drivers for insurance CXOs to accelerate technology transformation, including the changing nature of their customers. Millennials were the largest purchasers of insurance in 2021, according to research published early last year by Majesco , a leading insurance software company. This shift will continue for insurers along with increased demand from digitally native millennials and Gen Z for a modernized omni-channel experience. To date, the voice channel has been largely omitted — or at minimum, overshadowed — in the digital transformation conversation for insurers, with more attention being placed on […]
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