Even prior to the pandemic we were seeing a shift from the more traditional sales channels to more innovative ways of engaging with customers. However, the pandemic has really brought digital transformation to the fore as both the insurance industry and customers have been driven online. Digital developments we have seen include increasing use of online portals for both customers and intermediaries, new online service propositions such as add-ons to insurance products and the increasing use of telemetry and data analytics to streamline, and better direct, marketing activity.
What many of these changes have in common is their increased dependence on technology. Perhaps more so than ever before, businesses are turning to innovative digital solutions to secure sustainable growth during these uncertain times.
DACB’s technology lawyers advise across the full spectrum of digital business and IT-related matters, including large-scale transformation projects, software platforms, secure cloud storage, and ecommerce – to name only a few. The DAC Beachcroft “Digital Insurance” team consists of lawyers who specialise in advising the insurance industry specifically on commercial, distribution, technology, procurement, data protection and regulatory issues, as well as IP, consumer and policy wording. Although some firms may have insurance, technology or data protection expertise, DAC Beachcroft is unique in having insurance sector focused subject matter expertise and strength and depth across all of these areas within one core team. Because the opportunities and challenges presented by technology are invariably multifaceted, our technology lawyers are well-positioned to work seamlessly with colleagues in our different practice area and industry-focused teams.
Our Digital Insurance experts regularly advise on the regulatory challenges and operational risks when using technology to deliver insurance products. We have notable experience in Regtech, which allows financial services businesses to efficiently manage their regulatory processes such as monitoring, reporting and compliance through technology. This expertise is further bolstered by our research and publications on artificial intelligence, smart and connected devices, as well as blockchain and distributed ledgers.
Thought Leadership
Our global thought leadership delivers fresh thinking on hot topics. We take an overarching look at how to unlock the potential of ESG and drill down into 7 key themes that address recurring C-suite concerns. From class actions to technology, you will find strategic insight to stimulate discussion and debate.
