Digitalisation is often misunderstood as the transfer of analogue models into the digital world. Well-functioning analogue processes, such as the joint completion of an insurance application by the broker and customer, can be digitalised as they stand. However, this electrification is no guarantee that the digital version will work as well or even better.
Process digitalisation is a design task
The first step in the development of innovative insurance processes must be to depart from the analogue model. These processes need to be rethought and redesigned in view of the possibilities of digitalisation (such as mobile devices, chatbots and AI).