Business

TECHNOLOGY IS RESHAPING THE INSURANCE LANDSCAPE

INSURANCE PLATFORM with WEBSTER TWAAMBO Jr
NUMEROUS technological breakthroughs have led to some considerable transformation of the insurance industry. The tradition way of buying and selling insurance has significantly evolved over the last few years, benefitting both customers and insurers. With increased investment in technological innovations, the industry is set for disruption.

Technology has considerably improved access to insurance, as well as convenience. The recent technological advancements in mobile technology have created more affordable opportunities for insurers to distribute their products and services via mobile applications [Android, IOS and Unstructured Supplementary Service Data (USSD)] and manage their clients via online portals and dynamic websites. This is transforming the industry from the traditional eight working hour style to a more robust 24/7 accessibility.

Another impact of technology is the creation of collaborative tools. More than ever before, insurance companies are now using Intelligent Virtual Assistants (IVA). For many companies, across multiple sectors, IVAs have become an essential component of customer experience (CX), as mobile-based messaging becomes the preferred method of communication. For insurance carriers, IVAs can be used to optimise customer experience, increase revenue, lower costs and enhance risk management. For insurance customers, IVAs provide a simple, intuitive interface to access and  CLICK TO READ MORE

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