Preparing and administering the recently passed state PFMLs is much like bringing home that second, third or fourth puppy—arriers and TPAs have a strong background and framework to build from, but each one has enough nuanced differences to create headaches.
Opportunities for embedded insurance will give innovative insurers and their partners tremendous opportunities for growth, with new markets, new offerings, satisfied and loyal customers—and growing books of business.
The new 360 Degree Customer Experience solution is designed to offer customer experiences that place great emphasis on choice, speed, convenience, transparency and clarity.
How must insurers, right now, prepare for an even more automated and streamlined future with the shortcuts that people will create whether we want them or not?
Increasingly, customers choose insurers not just for the risk product, but increasingly for the combination or risk product, customer experience and value-added services.
If leveraged with an Inventive Insurer mindset, property insurance can transform to deliver innovative products, business models, processes, channels, and experiences—outside the mainstream—with overall superior CX.
Insurance functions as a service, be that core, data, distribution or digital must be well-integrated and architected for the cloud environment or else it may not provide business differentiation.
Increases in the complexity of the leave landscape will drive more employers to look to insurance companies and TPAs to manage employee leave administration—creating an opportunity to provide additional value and deepen the relationship.
Digital experiences that will not only be efficient and resilient, but they will pay for themselves through improved customer and agent engagement and far greater profitability due to smarter risk selection and greater portfolio management.
Visionary insurance leaders see the market, customer and technological trends as a many-fold opportunity—preparing to use new sources of data, reach new market segments, offer innovative new products needed by customers, and more.