Insurance: rethinking digitalization in the aftermath of Covid – Economy


Since the onset of the health crisis and in the face of growing uncertainty, customers, whether individuals or companies, have been looking for more reassurance and are asking for the creation of new products or the evolution of already existing products. existing systems to cover all possible risk situations.

To meet these expectations, the “digital first” strategy was deployed, sometimes at a rapid pace from the start of the health crisis, in particular with the digitization of digital documents, because some insurers no longer accepted documents in paper format and asked their policyholders to download them from the website. This digitization of activity is also illustrated in call centers, which have recorded an unprecedented volume of calls since the start of the crisis.. To cope with this, insurers have implemented strategies based on chatbots and conversational artificial intelligence to manage frequent and low-complexity requests, and thus dedicate more human resources to interactions requiring more qualitative support and personalized.

If insurers have been migrating more and more to the cloud since the start of the health crisis, in particular for archiving systems, it is mainly for the resilience and flexibility it brings. The cloud also offers better performance and frees up IT resources within companies and thus reduces costs. Each change or innovation can be applied widely and very quickly to all systems, which is a huge advantage over traditional systems in which everything had to be changed manually over extremely long periods of time. This is the choice made by Macif to be able to refocus the activity of its IT team on considerations more related to customer satisfaction.

In a context of rapid and widespread digitization in the face of issues related to the Covid epidemic, insurers have a sizeable challenge to take up, for which it will be essential to collaborate with players specializing in technologies in order to properly control their adoption. According to the World Insurtech Report 2020, 67% of them would like to collaborate with insurance companies to accelerate their digitalization and remain competitive in the market, a desire clearly up compared to last year, given the circumstances.