ISG Provider Lens™ Focal Points - Insurance Services - Europe 2024

How to Get the Most Value from Insurance Industry Services – Europe

Insurers in Europe increasingly recognize the need for an enhanced data-driven approach. By leveraging relevant and well-structured data pipelines, they can determine pricing models and newer insurance propositions based on the fast-evolving geoeconomics dynamics and changing clients’ needs to improve the overall policyholder experience. Adopting an AI-first mindset with digital readiness is essential in the insurance industry, as it is considered a laggard in adopting advanced technologies compared to other sectors. Regional and local insurers must replace and modernize legacy systems to remain competitive in today's digital landscape. Ashish Jhajharia, Lead Analyst and author of the ISG Provider Lens Insurance Industry Services – Europe report says, “For outsourcing, European insurers are forming strategic alliances with providers and integrating technology and expertise within their operations.” This collaboration enables insurers to address emerging challenges and enhance the policyholder experience effectively.