Software as a service (SaaS) is working hard to accelerate the insurance industry's digital transformation and specifically can be used to improve policyholder happiness, retention, and administrative cost savings.
The term SaaS, or software as a service, dates back to the 1980s, but its meaning has evolved over time - instead of installing and maintaining software, SaaS applications are accessed online with security, availability, and performance all managed by the provider. This makes SaaS an accessible, customizable option for insurance businesses planning to scale.
In the insurance industry, embracing the opportunities of digital transformation via SaaS products, but ones that are backed by industry experience, is critical for future-proofing opportunity and building a sustainable business.
In our experience here at InsuredHQ, delivering this transformation is complicated but don't take just our word for it; check out this webinar playback from the Digital Insurer on Common InsurTech Project mistakes and how to avoid them.