New Delhi, Jan. 29 -- Last year catapulted digitalization to the top priority list for many companies across the globe. The digital revolution in India disrupted the business environment in all industries, and the Insurance Industry is no exception. Technological advancements have remodelled the way how businesses are operating in the insurance sector. Digitalization also often promises to better serve customers by adding additional product design capabilities, claims management, strategy, marketing, and human resources. I agree with Steve Jobs' statement. "You have got to start with the customer experience and work backwards to the technology."

With Digitalization came enhanced efficiency and reduced cost of transacting business. Many i...