To implement a successful digital market, your digital design needs to start with the consumer’s expectations. Customers have been conditioned by online ordering and service transactions by other industries for decades. The time has come for other industries to follow suite; for an insurance digital transformation to introduce new normals of interaction.
Your industry is entering a major stage of insurance digital transformation as a slew of key trends converge at once:
- 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 insurance 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. And see how with the right partner, you can easily bring your firm through an insurance digital transformation to better serve your customers.