In many instances, technology’s role in building resilience is growing more ‘human’ in its capabilities, and insurance’s new human factor may enable it to become more resilient.
With multiple signals to respond to involving economic, business, environmental and social factors, 2023 will demand insurers to respond by strengthening business fundamentals and foundation, while meeting the challenges of a changing market.
Create a compelling story with customers by turning your internal operations culture into one that you are proud to show off.
Advanced technologies, like AI, ML and IoT, can support understaffed insurance companies, helping them compete in today’s market.
2023 will be the year that AI gains significant momentum in the insurance industry due to maturing technology advancements, the rising popularity, and familiarity of AI, as well as the greater availability of vast amounts of quality data.
Smart insurers are using technology to build their resilience in the current challenging environment. In doing so, they’re nurturing relationships with customers that can endure beyond the point at which inflation subsides.
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.
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.
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.
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.’