How Innovation and Customer Centric Technology Are Improving Outcomes for Commercial Insurers
New insurance competitors are often bypassing traditional distribution and building more immediate relationships based on new uses of analytics and data.
As work, workers and ecosystems respond to an increasingly digital environment, insurers must remain vigilant for new opportunities to identify and attract talent and distribution opportunities.
Faster and easier ways to transact with insurers will not fade away with the easing of restrictions. Instead, insureds and prospects will expect the even faster, more convenient transaction and service capabilities from their insurers.
As the impact of Covid affected insurers' ability to transact in traditional manners, many carriers increased their attention and investment to better communicating and transacting in the connected world.
Insurers seeking to develop new products and solutions need to keep the end customer in mind, and be content to develop new capabilities in steps that can be deployed and tested, rather than aiming too early for complete solutions.
