How digital risk and compliance have become integral to the insurance sector ?

Insurance is a sector that has been slower than most when it comes to digital transformation and the use of digital solutions to address traditional challenges and introduce new products and services. With methods and processes established decades ago, there is a conservatism that pervades across much of the insurance industry, and it has also been held up by legacy technology that makes digitisation much harder than is desirable.

But market forces over the past five years have combined to make addressing digital transformation more urgent and a key priority for insurers. To respond to these market forces, digital risk and compliance is going to be essential for the insurance industry.