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

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WEARABLES AND FITNESS DEVICES OFFER NEW OPPORTUNITIES AND CHALLENGES FOR THE INSURANCE INDUSTRY

Wearables and fitness-tracking technology have witnessed rapid growth in recent times. International Data Corporation reports that one in every five people in the U.S owns a wearable fitness device. It also estimates that annual shipments will exceed 250 million devices by 2021.

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3 INSURANCE TECHNOLOGY TRENDS THAT WILL RULE THE ROOST IN 2019

We’re sure you’ll agree when we say: traditionally, the insurance industry worldwide has been dominated by massive national brands and legacy product lines and age-old technology.

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INSURANCE GOES DIGITAL – A WIN-WIN FOR INSURERS AND POLICYHOLDERS

A lot of changes can be witnessed in various sectors – healthcare, travel, finance, etc. – all thanks to digital technology. The emergence of new players using technology has disrupted the industries.

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AI IS READY TO STREAMLINE THE INSURANCE PROCESS!

The insurance sector depends on loads of data — structured and unstructured, collected from multiple sources including social network, websites, surveys, live chats, third-party sources, customer’s existing insurance policies, and agents.

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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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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.