Technology And Insurance: The Future Ahead

The global pandemic of 2020 accentuated the need for quick digital adoption across business landscapes. It resulted in a huge transformation in the functioning of banking, financial system, and insurance, where companies started investing in technology and using data to develop tools that would help customers avail various services in real-time besides getting the help they require from customer service executives. The insurance industry, which has primarily been a traditional business, was at crossroads. It was looking for the right time and opportunity to ride the digital wave. With the pandemic acting as a potent catalyst to trigger this digital move, the industry is now looking at exploring all ways to stay relevant in the new-normal world. There are four primary areas where the insurance industry can flourish in the digital journey. Product Innovation And Customer Engagement The...