According to McKinsey’s Global Innovation Survey, 84% of executives agreed that innovation is critical for their business and is an important component of their growth strategy, but only 6% are satisfied with innovation performance. Arguably, this gap between innovation strategy and execution/results can be felt across the commercial insurance industry today. While commercial lines carriers and brokers have been intensely focused on digital transformation initiatives for the past several years, many lines of business, core operational processes, and manual workflows have not been modernized or innovated in a meaningful way in 30 years.

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