New research offers keys to cultivating competitive advantage in 2025 and beyond
NEWARK, Calif. (Feb. 5, 2025) – Concentrix Corporation (NASDAQ: CNXC), a global technology and services leader, announced today the results of its independent research into disruptive technologies, including Artificial Intelligence (AI), on the insurance industry.
“Insurance Technology Outlook 2025: Turning Disruption into Competitive Advantage” reports insights gathered from more than 200 insurance executives across 17 countries. The research highlights how integrated business solutions, combined with a technology-driven approach, can position insurers for success in an era of constant disruption.
Insurance companies find themselves at a crucial juncture where adopting technological advancements is essential for driving innovation,” stated John Mejia, Global Vice President of Account Management at Concentrix. “Our ability to harness technologies such as AI, particularly through our cutting-edge iX product suite, empowers insurers to thrive in this fast-paced landscape. By integrating insights powered by AI, along with automation and predictive analytics, we enhance operational efficiency and create better customer experiences. Additionally, our expertise in modernizing customer journeys and executing comprehensive digital transformation strategies allows insurers to transform challenges into opportunities, ultimately promoting sustainable growth and long-term success.”
The top three key data points from the report include:
- The insurance sector is navigating significant shifts, highlighted by 80% of surveyed executives who believe digital transformation is essential for the industry’s survival.
- 60% of survey respondents believe that traditional ways of doing business in the industry are being disrupted. In this environment, Concentrix believes that digital transformation, particularly AI adoption, is crucial for insurers seeking to maintain a competitive advantage against a backdrop of industry disruption
- 67% of insurance executives believe their data infrastructure is “best in class,” a critical factor for leveraging AI effectively. However, only 31% feel they are fully capitalizing on revenue opportunities during customer interactions. This finding shows a need for organizations to seek out better ways to use the data they are collecting to produce better business outcomes.
To remain competitive in this era of digital disruption, Concentrix recommends several strategic actions intended to help insurers deliver tech-led solutions and foster long-term growth:
- Leverage generative AI for customer value: Insurers should prioritize AI deployments that transition from back-end automation to frontline tools like personalized interactions and agile claims processing to enhance customer experience. Concentrix’ iX product suite revolutionizes insurance operations with cutting-edge AI, empowering insurers to boost efficiency, deliver seamless experiences, and tackle industry challenges proactively.
- Bridge the workforce skills gap with trusted partners: Success often depends on hiring and training talent and collaborating with providers offering deep sector expertise and advanced technologies. Concentrix delivers modern, digitally enabled customer journeys that foster loyalty and advocacy, with solutions that minimize friction, ensure compliance, and position the company as a leading partner in exceptional customer experiences.
- Invest in customer-centric technologies: Insurers must prioritize tools that address customer demands, such as AI-powered feedback analysis, chatbots, and hyper-personalized product offerings, which have already proven transformational in other industries. With Concentrix’ unique combination of automation, analytics, and expert insights to streamline operations and enhance productivity, insurers are empowered to effectively navigate digital transformation to improve the customer journey and maintain a competitive edge in a rapidly evolving market.
To read more findings in the full report, please visit “Insurance Technology Outlook 2025: Turning Disruption into Competitive Advantage.”
About us: Powering a World That Works
Concentrix Corporation (NASDAQ: CNXC), a Fortune 500® company, is the global technology and services leader that powers the world’s best brands, today and into the future. We’re solution-focused, tech-powered, intelligence-fueled. Every day, we design, build, and run fully integrated, end-to-end solutions at speed and scale across the entire enterprise, helping over 2,000 clients solve their toughest business challenges. With unique data and insights, deep industry expertise, and advanced technology solutions, we’re the intelligent transformation partner that powers a world that works, helping companies become refreshingly simple to work, interact, and transact with. Delivering outcomes unimagined across every major vertical in 70+ markets. Virtually everywhere. Visit concentrix.com to learn more.
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