2026-08-18 · Source: Reinsurance News
Summary in 3 Points • Majesco's report highlights a gap between insurer priorities and customer protection needs • Insurers focus on efficiency and competitiveness, while customers prioritise affordability and relevance • Majesco suggests insurers align technology investments with customer-recognised benefits --- Majesco's latest research report, 'The Insurance Alignment Gap,' explores the divergence between insurer priorities and customer protection needs. Insurers are primarily focused on operational efficiency, profitability, and competitiveness, while customers are more concerned with affordability, financial vulnerability, and having confidence in their insurance. The report identifies common ground in areas such as cost pressures and the relevance of insurance products, but also highlights differences in focus. Majesco suggests that insurers need to connect their technological and operational investments more directly to customer benefits, such as affordability and preparedness, to bridge this gap. The company also stresses the potential for AI to enhance customer understanding and decision-making.
For the London insurance market, this report shows the value of aligning product offerings with customer expectations. Underwriters may need to consider how AI and digital engagement can be uses to enhance customer understanding and satisfaction. Policy wording and pricing strategies could be adjusted to reflect a greater focus on affordability and financial resilience. Additionally, there may be opportunities to develop new products or services that focus on preparedness and proactive risk management, which could differentiate offerings in a competitive market.