The influence of digital transformation on the customer experience: a case on the insurance industry

Abstract

This study investigates the influence of digital transformation on the customer experience within the South African insurance industry, emphasing the role of insurtech companies. As digital transformation and innovation reshapes traditional insurance practices, insurtech firms harness technology to deliver personalised customer-centric solutions, enhancing both operational efficiency and customer satisfaction. Despite their innovative approaches these insurers face a number of challenges including building consumer trust, demonstrating relevance and maintaining customer loyalty in an ever changing market.

The research examines how insurtech companies have disrupted the insurance market, the digital strategies employed by traditional insurers and the resulting customer experiences. Through qualitative research including interviews with industry experts and customers, the study identifies key factors that influence customer expecations and satisfaction as well as the challenges associated with digital platforms.

Findings from the study offer valuable insights for both tradtional insurers and insurtech companies, highlighting the importance of a customer centric approach in digital transformation efforts. The study also provides recommendations for improving customer experiences, addressing current challenges and anticipating emerging trends in the insurance industry. This research contributes to a deeper understanding of the interplay between technology adoption and the customer experience in the context of the South African market.