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Digitization which is the cornerstone of the Fourth Industrial Revolution (also known as Industry 4.0) has an impact on all organizations across various sectors or industries. In each case, the impact is a different one which makes it essential for companies and their leaders to have a good understanding and view of what they face and how digitization will affect their company: which opportunities can be seized and which threats have to be faced?
The digital revolution is catching up to the life insurance industry as in the next few years, digital tools such as Artificial Intelligence (AI), Big Data and Advanced Analytics will enable a wide range of new business applications by collecting, analyzing and operationalizing vast amounts of data for improved marketing, underwriting, and customer retention.
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