Rethinking Billing and Payments in the Digital Age

A Majesco and Deloitte Joint Point of View Report

Digital transformation is a phenomenon that continues to accelerate within the insurance industry. From new products and business models to channels and markets, nearly all aspects of insurance are undergoing change, driven in large part by customer needs and expectations that are dramatically different than what insurers have traditionally faced.

Value-added services, new risk products, upgraded customer experiences, and embedded insurance, all powered by digital and data, are just a few items at the tip of the iceberg of change. Every part of the insurance operating model, including back-office functions, is being reshaped. Billing and payments are functions ripe for digital modernization. No longer an afterthought, billing and payments are a foundation for growth, customer retention, and innovation.

Read this report to better understand:

• The trends putting pressure on the insurance industry to accelerate digital transformation.
• The impact next-gen SaaS billing and payment platforms are having on reshaping the business focus from policy to the customer.
• Insurers’ ability to adapt to a new era of customer expectations for billing and payments.
• The pivotal role of billing and payments in delivering increased value and deepening customer loyalty.