The COVID-19 pandemic has changed the world vastly, with many organisations’ having to overhaul their business models amid numerous restrictions. Leonard Tan, country manager for Singapore at Outsystems, was recently on the Insurance Business Talk podcast and shared how insurers can undergo accelerated digital transformation in the volatile pandemic environment.
Tan (pictured), said the changes seen in the past year are larger in scale than the changes that happened in the past 10 to 15 years combined. For the insurance industry, one of the largest impacts was sales agents could no longer have face-to-face meetings with clients. This, he said, has forced insurers to “relook, rethink and re-strategize” their business models.