Insurers need to place the customer at the heart of everything they do, developing a digital strategy for both front and back-office operations to meet customers where they are.
To gain a competitive edge, implementing an Agent Portal delivers genuinely valuable and satisfying experiences that result in more productive and loyal agents.
As the industry meets more niche needs and as insurers begin to partner with different organizations to reach and capture customers, we will begin to see a real shift in leaders within the industry across all segments.
Insurers need to prepare themselves and their technologies to bundle, expand, embed, partner, customize, and flex to meet the future market demands.
Among the requirements for an enterprise program are a relatively ubiquitous technology—smart phones, low service cost and the ability to detect accidents at low speeds with minimal false positives.
Before undergoing any transformation, carriers should consider their enterprise data strategy: is the organization’s data ready to support a new distribution strategy? We’ve seen some common data challenges across carriers.
The InsurTech innovation wave is maturing into a real collaborative environment made up of platforms, ecosystems, and modern data management.
With a future that moves forward with blazing speed, many insurers aren’t prepared for the unpredictable, are not attune to new and layered risks, and many are certainly not prepared for the new customer mindset that is evolving.
The only way the unknown risks become a part of business strategy is if underwriting accounts for changes that are in constant motion, using variables as diverse as climate change and construction prices.
Product placement is now a matter of channels and predicting when and where customers need a product. It’s all about the ‘The right place, the right time.’