A STUDY OF DIGITAL DOCUMENTATION SYSTEM WORKING IN THE INSURANCE INDUSTRY

“New Digital Technologies in the Insurance sector and the time is now”. At a time where speed of digital change is so rapid that standing still means falling further behind, this article provides fascinating insights into how insurers can respond to such splendid technological progress and how to succeed in the digital future. Though Insurers view digital as a key priority, they are lagging far behind. Because what the insurers fear is that the traditional documentation process was still reliable and more physical. Persons could be held accountable on the written document at hand. But adapting to a new digital platform presents many difficulties for insurers as they face challenges in introducing new channels to market, while simultaneously remodeling traditional ones. No single solution can seamlessly incorporate digital into a business; there are elements inborn to all effective digital approaches. Insurers need a vision that focuses on the basics. Embedding a culture of innovation into the organization and building a work frame, infrastructure etc. is the first step. Digital strategy begins with a plan and a sound understanding of the practical realities of implementation. Each of the elements like corporate strategies, customer expectations, targeted clients and hence on legalizing frameworks will help shape each other as digital capabilities develop.