Digital transformation has been on insurers’ agendas for quite some time now, and the pandemic has created a new urgency for meeting consumer demand. A Sapiens survey shows that 76% of insurance consumers think digital will be a lasting trend even after coronavirus is defeated, and half expect carriers to automate and digitise more customer interactions. History has shown that high speed change is key to innovative solutions and new ways of tackling challenges.
For initiatives to truly be customer friendly they must meet the expectations of today’s tech savvy clients. Ideally, underwriting decisions have to be made in a split second and legitimate claims must be paid immediately.
With automation and digitisation firmly on the agenda for insurers, this content highlights why investments in real-time risk assessment and fraud detection are required to modernise underwriting and claims processes.