The insurance industry is entering a major transformation stage as a slew of key trends converge on the industry:
- Customers are buying insurance products directly from the carrier rather than through traditional commission-based channels.
- IoT provides information not previously available to provide insight into claims risk due to policyholder behavior.
- AI and automation provides the ability to decrease operating costs and provide better experiences due to shortened cycle times.
- Customers want their insurer to be partners in their financial and personal well-being.
While the industry continues to experiment with responses to these trends, there are enough successes to suggest several areas of exploration for your firm. Find out how to take advantage of technology, such as Salesforce, to maximize your ROI and improve your Org.