Insurance Technology Trends For 2020

Insurance Technology Trends For 2020

Content In 2020, deploying Marketing Automation and CRM software, AI-powered product suggestions, along with Ad/MarTech tools by leveraging the capabilities of an insurance technology company can help in forging everlasting customer relationships while fostering customer loyalty.

1 .Tap the CX Opportunity 2.Mobile Apps Future-ready 3. Embrace AI 4. Keep the Data Secure 5. Brace for Blockchain

01

Tap the CX Opportunity

Tap the CX Opportunity

In 2020, non-life insurers should know the customer holistically and craft the products and services to match their expectations and needs on digital platforms as well.

02

Mobile Apps Future-ready

Make Mobile Apps Future-ready In 2020, it is not about just being mobile. It is about richfeatures, engaging UI, and hyper-personalized experiences. Prospective buyers have time-paucity to search the desired product in the portfolio, they want recommendations autopopulated with easy access to human interaction through chat or call.

03

Mobile Apps Future-ready

Embrace AI By 2030 Artificial Intelligence will overhaul all aspects of the insurance industry. The simultaneous emergence of IoT and AI in public space will make the contemporary way of claim processing obsolete. As a result, CIOs must make strategies to prepare the organization for the proliferation of data from connected devices.

04

Keep the Data Secure

Keep the Data Secure CIOs need to allocate adequate resources to keep data secure, impede breaches, and maintain a strong accountability system for robust security. To attract new customers, the promise of data-security is probably the most understated advice with far-reaching repercussions.

05

Brace for Blockchain Disruption

Brace for Blockchain Disruption Issuance of Insurance policies through smart contracts and encryption of medical records will make the operations secure and efficient, apart from bringing transparency between insurers and reinsurers.

CIOs should keep a tab on Blockchain penetration, as it is likely to disrupt the Insurance landscape soon.

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