What are the main characteristics of the future of Insurance? Here, we’ve gathered the key takeaways and trends as presented in various blog posts about the insurance sector.
- Put customers in control of their own data. Help them get the most out of it – and constantly communicate with your customers.
- Create a digital ethics board and put digital ethics at the center of all your future business and digital innovations.
- Make all technology-driven decisions easy to understand and follow for your customers.
- Never underestimate the power of digitally enabled human contact.
- AI and advanced data analytics will drive a more predictable insurance market. Turn your data into a strategic asset.
- Use the power of networked data to create real customer value.
- Customers are more curious than ever but also more worried. Be extremely aware of the ethics in data usage.
- Create an ecosystem of innovative services around the customer.
- Transit towards a more proactive customer relationship, rather than the remaining a reactive “utility player”.
- The Covid-19 crisis could be the push needed for insurers to pull the plug on wide scale digital rollouts. Prepare for a post-Covid world.
How Insurers Can Tame Data to Drive Innovation
Moving to more responsive, AI enabled architectures that accelerate data management and deliver insights, will help insurers drive business performance.