The latest technology empowers insurers to segment and optimize their existing portfolio, identify new opportunities, and offer truly connected policies.
Over time—likely just a few short years—the fortunes of core platform vendors will no longer rise and fall on the strength of their core modules.
Many insurers – including some of the biggest brands in the insurance market—are already reaping significant benefits by deploying smartphone telematics to their customer base.
Insurers try to make innovation something distinct from the main organization, fostering an “us and them” mentality and producing ideas which fail to scale or demonstrate ROI.
Adopting new policy options such as PPM demonstrate that insurers are keeping up with these evolutions and are able to serve policyholders with unique and value-added solutions at each stage of their driving journey.
The successful insurers will be the ones that partner with a broad range of companies looking to create the right solution to protect people, vehicles and things in an era of rapidly changing personal mobility.
The relationship between employee engagement and customer satisfaction is well established, and that link is twice as strong when employee satisfaction is particularly high.
The popularity of voice-activated applications, such as Siri, Alexa and Google Assistant, has serious implications for insurers. Celent’s Donald Light offers key considerations for a voice strategy.
Insurers must transform by leveraging their legacy investments to create an agile enterprise focused on omnichannel customer experience and customer intimacy.
While the industry’s standard weather data collection tools have enabled weather predictions to increase in accuracy over the years, they still lack one critical dimension: accurate ground-level data.