Insurance
Home›Insurance›Industry & Deals›Insurer priorities and customer protection needs are d…
Insurer priorities and customer protection needs are diverging, Majesco says
Majesco argues insurers modernizing for efficiency and AI need to tie technology spending more directly to customer-visible benefits like affordability and trust.
Majesco says its latest research finds a widening “alignment gap” between how insurers prioritize transformation and what customers want from coverage. In its thought leadership report, The Insurance Alignment Gap: Where Insurer Priorities and Customer Protection Needs Converge…and Diverge, the company contrasts insurer goals with rising customer concerns around affordability, financial resilience, preparedness, and trust.
According to Majesco, insurers are focusing on improving operational efficiency, profitability, and competitiveness, while modernizing core systems, adopting artificial intelligence, and building more intelligent operating models. Customers, in contrast, are placing greater weight on affordability, relevant protection, confidence that coverage will help when circumstances change, and overall understanding of what they are buying.
Majesco frames the gap as a difference in perspective rather than fundamentally separate priorities, saying both sides can be responding to similar pressures from different positions. The company argues that insurers that connect enterprise transformation and technology investment to customer-recognizable value are more likely to outperform.
Denise Garth, Chief Strategy Officer at Majesco, said the insurance industry is at a pivotal moment where transformation and customer expectations can no longer evolve on separate tracks, and that the challenge is also a potential growth opportunity. The report also points to common ground in areas such as cost pressure, product relevance, personalization, digital engagement, AI, and more proactive approaches to protection.