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

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ROADBLOCKS TO INSURANCE DIGITIZATION

The insurance industry is continually being pushed towards a digital transformation. It’s not just the pressure from millennials, but there are other drivers as well pushing this change, including new market entrants, changing customer behaviour and technology.

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ARTIFICIAL INTELLIGENCE MAKING INSURANCE EXPERIENCE BETTER

From managing chronic conditions more efficiently to helping customers choose the right insurance plan, artificial intelligence (AI) is ready to disrupt the health insurance industry. Insurance companies today are using AI in ways not possible a few years ago.

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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.

Millennials

How are Millennials Changing the way Carriers and Agents Collaborate

Tech-savvy Millennials are one group of customers who are least engaged with their insurers and prefer to buy policies online, as per a 2015 poll by Gallup. In the US, this age groups’ population dominates the market, which is a large client-base for insurers. These demographics are alarming for insurers who are now being pushed to differentiate and strategically partner with agents to satisfy the needs of this generation.

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3 Ways Insurance Agents Can Succeed Using Technology

  Insurance is slowly emerging from its prehistoric traditional sales methods and slowly adopting technology into its business functions. Some players might be leading the way to digital transformation but most of the insurance carriers are still hesitant at undergoing a companywide digital overhaul.