With so many people working from home during the pandemic, digital has become more important than ever for insurers.
But only 40% of insurers have a formal digital strategy, according to a Novarica survey of insurance chief information officers. Most insurers, however, claim at least a set of best practices for digital. The survey found that 42% of insurers say digital strategy has increased in importance since the pandemic began, but only 9% have increased their digital budgets.
