The Top 3 Digital Imperatives for Insurers
Insurtech firms have caused an upheaval in the insurance industry. It's about time for insurance incumbents to take a fresh look at how to apply new digital capabilities.
The ongoing digital revolution and the remarkable rise of the commercial internet have transformed traditional business models and empowered customers. Today, they can browse product and service options on the go (mobile search), engage with a live agent (chat/video), resolve issues through self-service (i.e., chatbots), collaborate with peers to review options (social), negotiate and make purchases (e-commerce/m-commerce), and have items delivered directly to their doorstep.
While enterprises have enthusiastically adopted Digital 1.0 (online, mobile, and social) and asset-light (cloudenabled) services, the next frontier is Digital 2.0. This is where contextual, intuitive, and experiential engagement occurs across various customer touchpoints.
We predict that by 2020, Digital 2.0 technologies, including machine learning, artificial intelligence, biometrics, and robotic automation will further augment Contact Center 3.0 with innovative, personalized solutions. Enterprises that are flexible and that openly embrace this model will emerge as masters of the customer experience (CX). But to get there, consumer-facing companies must become well versed in the three megatrends of Digital transformation 2.0: System convergence, Self-service, and Zero-UI.
This white paper explores each of these megatrends in detail, with recommendations on how consumer-facing enterprises can create and enact strategies that will differentiate them.