We can extrapolate from the example of the iPhone how insurers are now open to creating an increasing array of customer-focused products that are integrated to employer ecosystems and other devices within their ecosystems.
The ability to engage customers with better data and then keep them with portability is a real opportunity that will continue to grow through innovation.
Commercial lines insurers are now presented with new opportunities for digitally-optimized underwriting that will forever change how they do business.
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.
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.