Conversational AI in Insurance: Enriching the Customer Experience
The enormous benefits of using Conversational AI in the insurance industry are already becoming apparent. Leading insurance companies have transformed their customer service by automating the end-to-end resolution of over 80% of incoming inquiries using AI-powered Intelligent Virtual Assistants (IVA) while slashing operating expenses dramatically. Identifying consumers’ motives for initiating contact has become critical analytics […]
Key Digital Transformation Opportunities for Insurers Post-Pandemic
There’s no doubt that the insurance industry has witnessed a profound transformation in the last few years than it did in the last few decades and the rate of acceleration in growth and opportunities has been massive and infinite. Most of these changes were long overdue, they have finally set the stage for a more […]
Has Your Insurance Company Adopted These Transformational Tech Trends?
Most industries worldwide are witnessing a transformation, thanks to disruptive technologies. And the insurance industry is no different. With insurtech maturing with every passing year, to stay ahead in the game, insurance companies are always on the lookout for the latest and most innovative technologies that can help them optimize and streamline operations yet give them a competitive advantage in terms of cost and […]
Top Trends Influencing the InsurTech Industry
Though not one of the early adaptors of technology, the insurance industry today is paving a path towards disruptive innovation after being technologically stagnant for the longest time. Insurance companies are evolving to become more competent and undergoing massive digital transformation, thanks to the pandemic that accelerated the pace of it due to the rising […]
The Need to Embrace Insurance Ecosystems- It’s Now or Never!
Ecosystems can be game-changers for P&C insurance. It has been proven that the adoption of a digital ecosystem mindset can bring significant advantages to insurance companies. But what really is a digital insurance ecosystem? Insurance Ecosystem An ecosystem generally means an interconnected system of offerings from a variety of participating providers, like a network of players who work together to define, build, and execute […]
Cybersecurity in the Insurance
As per a report by EY, 2020 saw an unprecedented rise in the number of cybersecurity attacks on businesses, especially insurance companies, where the industry suffered ransomware attacks- more than 200% more than the previous year. One of the main reasons probably is because the pandemic forced organizations into ad-hoc measures that bypassed cybersecurity protocols. Everyone needs some kind of insurance and […]