APAC Digital readiness - from an insurance perspective. The low ranking of the insurance sector suggests that most of the insurers fail to offer opportunities to customize, purchase and manage policies online, but also providing specific solutions to younger generations (X, Y, Z, etc.) on new media such as mobile, digital and social. The negative sentiment expressed, also suggests that there is a huge upside opportunity for companies willing to invest in both qualified human capital and technology to gain competitive advantage by differentiating via challenging conventions in their category.

Companies that address these concerns and capitalize on the opportunity digital media present to only promote ad advertise brand, products and services to demographics who are mostly consuming media digitally (mobile, social and online), but most importantly to convert them into customers and foster their loyalty, will have the upper end advantage in the field. In Asia Pacific especially the lack of highly talented human capital, mainly due to the CEOs` lack of mere understanding of what digital is and could do for the company opens there flanks to the likes of companies such as Oscar insurance in NYC. When the regulators will open and enable pure players into the field, the disruption seen in other industries will awaken the insurance sector by storm, a cold shower long overdue for the shortsighted. Think of the payment services industry where century old brands succumbed to new players such as PayPal and Square in matter of years instead of decades. Thin of the 1.5 billion new consumers entering the middle class status in the next 5 years, most of them you up an coming from the digital era. And for those CEOs who believe a poorly designed website and social media presence, without a function UX and specific solutions catered to simplify the process of learning to purchase to claim to after sales service, are sufficient to extend their brand and product campaigns into new media, they are completing missing the point.

Insurance companies (and so all industries) require a business strategy for the digital era, NOT a digital strategy.