Addressing claims cost, customer acquisition, retention and engagement.
Positive disruptive changes taking place in the insurance industry center around using data-driven technologies to provide new and better services that deliver greater value to policyholders. The challenge for insurers is recognizing and adapting to the substantial changes that are reshaping the industry. Those companies that embrace the change will have tremendous opportunities to engage their customers more effectively and accommodate a wider range of consumer needs and expectations.
Technology can be a primary enabler behind many innovative services, but ultimately it is the insurers’ understanding of the market, the intention to focus on customer-centric services, and the willingness to explore new models of providing insurance that will drive business success.
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