he image of an insurance sector encumbered by legacy solutions and slow to adopt new technologies has been a tough one for it to shake off. But whether it is the threat of tech giants eating their lunch, new insurtechs stealing market share, evolving customer expectations or a need to attract the best talent, times are changing.
A data rich market, insurance is now starting to properly interrogate and analyse the information it has to better understand its policyholders and offer them a more personalised experience with tailored products and services. Elsewhere it is using AI and RPA to remove costly and time consuming manual processes to free up staff so they can focus on more value-added customers interactions.
On this dedicated Technology hub, we showcase the latest insights and thought leadership about how insurance companies can utilise their existing infrastructure/data to get the best results; as well as integrating and using the latest digital technologies to help them gain an all-important competitive advantage.
Digitisation has become essential for insurers looking to unlock value and deliver excellent customer experience. According to EXL's UK and Europe team, Mohit Manchanda, head of insurance, Rohan Regis, vice-president insurance and Swarnava Ghosh, senior engagement manager - insurance analytics, this is especially true for companies looking to optimise claims indemnity. By identifying opportunities
The widespread adoption of electic vehicles is down to factors such as lifestyle changes brought on by the Covid-19 pandemic and people becoming more environmentally conscious writes Steve Molloy, director of commercial sales and EV strategy at AX.
Leveraging value from InsureTech to drive innovation into transformation and ultimately competitive advantage in the current climate is a theme across the insurance industry akin to the Oklahoma Land Rush of 1889, writes Rob Saunders CEO of ActiveQuote.
About our research
Our market research reports provide detailed insight on the biggest challenges and opportunities and delivers actionable insight that can be used across all functions within UK insurance market.
For our latest study, Insurance Post has partnered with Lexis Nexis to get an overview on motor pricing trends and the impact the current economic climate has had on consumer behaviour, i.e. new customers and those at the point of renewal.Take part now