COVID-19 has jumpstarted the digital transformation in the insurance sector. Insurance customers are embracing digital touchpoints across the entire customer lifecycle: 71% of US life insurance buyers researched their insurance products online, 74% of UK insurance buyers bought insurance online, 13% of Italian insurance buyers have interacted with their insurer via online chat, and the list goes on (Forrester, The State of Digital Insurance, 2021). Where insurance companies haven’t responded with better digital experiences, a number of insurtechs are prepared to take over. But digital technologies are changing more than just sales and service, and this is starting to affect the entire insurance value chain. Insurers are now facing three key challenges: how to increase customer satisfaction and retention, reduce operational cost and utilise legacy core insurance technology.