PCIT PLUSNews and Updates in the Property & Casualty Insurance Industry – A KMG Initiative

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INFOGRAPHIC: PREDICTIVE ANALYTICS DRIVES PROFITS FOR INSURERS

Data and analytics are essential to the success of insurance companies – underwriting and claims management, and fraud detection and prevention. They also provide insurers with valuable customer insights. Predictive analytics, which uses data and statistical algorithms to forecast behaviour, continues to disrupt the insurance sector.

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TELEMATICS – FITBIT FOR YOUR CAR!

Over the years, automobiles have evolved tremendously. Yet the auto insurance has been slow to follow suit. It’s only in recent years that insurers have embraced technology. Insurance companies have been rapidly adopting telematics to improve the accuracy of insurance claims.

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TECHNOLOGY – CHANGING THE WAY WE BUY INSURANCE!

Do you still remember the comic science fiction cartoon “The Jetsons”, made in the 1960s and 1980s? This show made all sorts of predictions about the distant future – jetpacks and traffic jams on the skyways; but skipped over the question of insurance.

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INSURANCE COMPANIES CAPITALIZING ON VOICE TECHNOLOGY!

Insurance is among the oldest industries, yet it has always been slow to adopt new technology and, hence, lagged behind others in digital maturity. But the rapid adoption of voice-enabled devices is sure to transform the insurance industry.

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TELEMATICS – DRIVING GROWTH IN AUTO INSURANCE

With the arrival of mobile telematics technology, the auto insurance industry is going through a transformation. Data-driven intelligence is working wonders — customers are no longer being judged on their age or gender.

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4 REASONS TO USE CHATBOTS FOR YOUR INSURANCE BUSINESS

Customers, nowadays, are seeking new ways to interact with insurance companies digitally. All they expect is to have a better buying experience with multiple touchpoints that go beyond the usual call centres. This is where chatbots have their role to play.