intelligent

Today ’ s insurance customers want a service which is convenient , quick and most importantly , personalised . It has long been a challenge for insurance companies to understand their customers on an individual level . But thanks to evolving technology , companies are able to overcome these challenges and fulfil this vital step in the insurance value chain . Nelson Camara , Go-tomarket Executive at SilverBridge Holdings , explains how the hard lockdown conditions of last year have offered the opportunity to reimagine processes and take significant strides towards being a more digital-centric organisation , which has led to customers calling for a more tailored offering .

ERSONALISING THE

INSURANCE experience is not a new concept . In fact , insurers ’ ability to understand their customers on an individual level has long been considered the panacea for the sector . Evolving technology , more sophisticated data analysis tools and the emergence of Artificial Intelligent and robotic process automation are contributing to an enabling environment to fulfil this vital step in the insurance value chain . After all , by having an improved awareness of their customers ’ actions and behaviours , insurers can deliver more frequent and high-value engagements .

This is imperative if a satisfactory experience characterised by speed and convenience is to be delivered . Much of the current focus for insurers is on the importance of the customer experience and being able to deliver on their evolving expectations . By combining fast and efficient services with rapid issue resolution , an insurer has the strategic pillars on which a successful business in the digital era can be built . By integrating these components , an insurer can deliver a more bespoke customer experience , presenting it for opportunities to gain a much-needed competitive advantage . And for their part , insurers are aware of this potential and looking at ways to do this .

Embracing more channels to get this engagement going is becoming part of the agenda for insurers . But it is not only important to offer a variety of channels to choose from . After all , engagement is about more than just delivering different channels for customers to interact with . It centres on providing personalised recommendations based on an individual ’ s interest , life stage and behaviours .

But this level of personalisation is not something that can be considered a long way

EVIDENCE SHOWS THAT A HIGHER PROPORTION OF CONSUMERS ARE WILLING TO SHARE DATA COLLECTED ON THEIR SMART WATCHES AND OTHER SIMILAR WEARABLES .