Compliance, regulation and big content management will need to be top priorities for companies seeking to integrate the latest technologies into their practices and reap the benefits of innovation.
Insurers are not doing a terrible job at customer experience, but they need to consider more proactive, personalized, and technology-driven approaches to remain competitive in an impulsive market.
Consumers are lukewarm on the performance of life insurers in key areas. By focusing their skill and technology investments on the largely-ignored topic of emotional connectivity, insurers will dramatically improve their ability to stay relevant with their customers.
Are dental and medical insurers destined to join forces or are there other options?
With the right distribution channel and the right tools and technology, life insurers can capture this growing customer segment.
Life insurance consumers increasingly don’t value or connect with their carriers, and current technology trends won’t help. Left unchecked, this problem will make it difficult for the industry to fend off challenges from more emotionally-savvy competitors.
It is not as if there have never been new entrants or that companies from other industries have ignored insurance, but the flurry of new activity and innovative partnerships, investments, and market approaches may represent a bigger trend.
Companies that successfully transform place in the top quartile of their industries, but more importantly, digital can help insurers to better support the all-important duty of protecting policyholders’ dreams and restoring lives.
SMA’s recent report, Emerging Tech in Commercial Lines: Ramping Up Adoption, covers eight emerging technologies that hold great promise for commercial lines organizations.
The core system of the future will address a variety of decision-making needs, allowing employees to focus on strategic work versus more administrative tasks, driving better outcomes for insurers and policyholders alike.