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

VOICE TECHNOLOGY: THE NEW NORMAL FOR THE INSURANCE COMPANIES

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Insurance is one of the oldest industries in the world, yet it lags somewhere behind other sectors in digital maturity.

Earlier, insurance companies had fragmented data and focused only on increasing their product offerings, without keeping users’ needs in mind. However, things are changing now with insurers centring more on customers’ education and needs. Still, there is a lot to achieve.

When it comes to changing consumer expectations and emerging entrants in the market, the industry is still struggling.

Get ready for voice search!

The introduction of voice assistants in the insurance domain is the beginning of a new era and is all set to take the market by storm. While this voice technology has primarily been used to get news updates, play music and operate smart appliances; insurance companies are now finding ways to tap the technology and step up their customer service game.

Consumers have now started adopting the voice assistants for seeking information. For instance, users can now indulge in a conversation with the voice technology assistant and get all their queries answered. They can ask the virtual agent about finding a local insurance agent, tips for buying the policy, learn about various insurance products, and more.

Voice Technology Powering up the Insurance Industry!

Though the industry has been slow to adopt new technology, it has widely accepted voice-enabled devices, and is now become a trend that is sure to have an impact. Voice technology will play a significant part in the insurance ecosystem without replacing screens or other touchpoints. Instead, it will open more gates for insurers not just to communicate but also build brand loyalty. AI-enabled voice tech devices will turn the tide and change the customer’s journey, forever.

It’s time insurance companies need to hone and stay relevant with voice search, if they wanted potential customers to look for their business. Insurers should start taking steps to get their business voice-ready, helping them become an important driver of customer satisfaction and stay ahead in the competition.

Voice recognition technology offers a host of unique opportunities that are impossible to deny. The technology will not just benefit the insurance sector, but in fact, various industries will get a chance to improve their brand reputation and business bottom line. With the adoption of voice search climbing rapidly, it will soon transform the way potential customers search and choose insurers.

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