We must be able to discern what role we are expecting technology to play within all of the projects and programs that constitute the enterprise’s strategic plan. With this understanding, we can establish the linkages necessary to inform technology direction setting.
We have reached the stage in technology where payments through mobiles are not only possible, but increasingly common.
Technology is revolutionizing how insurers engage with policyholders, but that doesn’t mean that the need for a human touch is gone – in fact, insurers must be closer to their customers than ever before.
Mobile technology may seem more relevant to direct sales, but the mobile channel is becoming a vital digital platform for agent engagement and outreach.
Now that 401(k) balances can more easily be converted into longevity annuities, providers will need to pay attention to payout systems which have been strained and increasingly inefficient since the beginning of Baby Boomer retirements, around 2008.
How can life insurers be motivated to use new distribution tactics reverse a situation where the public good of life insurance has reverted to being a tax dodge for the wealthy?
The cost of multitasking is high. It takes more time to get the tasks completed if you switch between them than if you completed them one at a time.
To move from reactive to proactive underwriting, carriers must deploy dynamic strategies that combine predictive analytics with adaptive decisioning capabilities that change underwriting strategies in real time.
What we’re witnessing here and in other areas, such as smart home technology, is a continuum of change that can bring significant changes to insurance before the emergence of completely driverless personal transportation.
Group life is an industry reinventing itself, owing to the requirements of the ACA and Health Exchanges. Carriers forced in the past to build now have modern, configurable systems to help them respond to emerging opportunities.