Article summary
The COVID-19 pandemic catalyzed significant disruptions across various sectors, including the insurance industry. Insurance providers had to rapidly adjust to the changes brought about by the pandemic and accelerate digital transformation efforts. In 2020, 67% of consumers changed their buying habits, including insurance products and services.
To maintain their competitive edge, insurers are turning to business-to-consumer (B2C) models. This involves directly engaging with consumers through various channels, such as websites, mobile apps, and other tools. By doing so, insurers can reduce costs and provide better service levels to their customers. The adoption of B2C models has become a trend across the economic spectrum, as businesses strive to stay competitive.
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