Harnessing the power of digital transformation: How insurance companies can reimagine business

61% of financial executives declared “customer experience in digital channels” as a top priority in the CEB 2015-2016 FSI Survey, and that’s a good thing because 41% of customers in 2015 indicated a preference for using digital channels to complete insurance transactions—up from 30% in 2013.1 Simply put, many insurance policyholders prefer to use their mobile devices to get quotes, send information, process claims or just find and connect with an agent. Providing the experience that customers demand is the first thing insurance companies should do to maintain and grow market share.

Spotlight

Medical Insurance Consultants Ltd

Medical Insurance Consultants Ltd are a specialist insurance broker providing unique insurance solutions for healthcare providers and professionals since 1997. We don't do off the shelf products, instead we create our products in consultation with medical professionals and management to ensure we provide a top of class insurance product. MIC has grown steadily since creation and is now a well known insurance provider brand in the healthcare sector.

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AN ASSESSMENT OF THE FEDERAL GOVERNMENT’S FINANCIAL RISKS TO CLIMATE CHANGE

whitePaper | April 26, 2022

The climate crisis poses a serious threat to the United States economy and human welfare, with a narrowing timeframe to invest in opportunities to avoid the most catastrophic impacts. Extreme weather events can be exacerbated by climate change, disrupting supply chains, and flooding made worse by sea level rise can destroy critical infrastructure. As a smaller subset of these impacts, climate change threatens the Nation’s fiscal health.

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Unlock the potential of embedded insurance

whitePaper | December 5, 2022

The convenience of embedded insurance is making it one of the most desirable forms of insurance distribution for all parties involved. On the demand side, consumers’ appetite for convenience — and their willingness to conduct transactions online — are both higher than ever. The technologies involved in embedding insurance coverage into other products and services have been perfected. As a result, insurers are uniquely positioned to benefit from the rise of embedded insurance.

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The future of motor risk: Driver today, passenger next

whitePaper | September 26, 2022

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How InsurTech is transforming the insurance industry to address a new era of emerging risks, and improving lives along the way.

whitePaper | December 10, 2019

Insurance, since its inception, has shaped patterns of economic and social growth. It has helped us mitigate the damage of threats and disasters from droughts to car accidents, and has opened new pathways to financial health and stability that would not have been possible without risk management. Insurance is part of all of our lives and, as societies across the globe now grapple with increased risks from climate change to geopolitics, and new trends in consumer demand and technological advancement, insurance is changing.

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Data culture: The insurance imperative for growth and resilience

whitePaper | March 17, 2022

The challenges facing the insurance industry have accelerated a shift in customer expectations for digital-first, streamlined and personalised relationships. This content highlights how creating a strong data culture can enable insurers to improve decision making and enhance the customer experience.

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How can data enrich the motor claims journey from FNOL to payments?

whitePaper | December 12, 2022

At a recent roundtable held by Insurance Post in association with LexisNexis Risk Solutions, an expert panel discussed how motor insurers could make better use of data to improve the customer journey post-loss, improve efficiency and, ultimately, create a seamless claims process.

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Spotlight

Medical Insurance Consultants Ltd

Medical Insurance Consultants Ltd are a specialist insurance broker providing unique insurance solutions for healthcare providers and professionals since 1997. We don't do off the shelf products, instead we create our products in consultation with medical professionals and management to ensure we provide a top of class insurance product. MIC has grown steadily since creation and is now a well known insurance provider brand in the healthcare sector.

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