Published Paper Details:

Abstract: Instead of being driven as a service, the insurance sector is driven as a commodity. Offering a low price is essential, improving risk assessment is a preoccupation, and rapidly processing customers is a major focus. As a result, unlike in other industries, the digital transformation is still not given high emphasis. In the meantime, with the advent of the digital and everything online, the retail customer wants to be able to reach everything everywhere at all times in addition to being able to access anything, anywhere, at any time. The customer wants to purchase specialised goods and services that are promoted via mobile, tablet, or computer. One of the key factors now influencing economic growth is the digital revolution. The conservative insurance industry is faced with opportunities and problems because to the necessity to adapt to the digital economy as a result of Internet usage and the rapidly changing business environment. The global pandemic COVID-19 has had an effect and has sped up the insurance industry's slow process of going digital.