Autor: Cath Sandoval

As we explained in the previous article, the digital transformation process is not something simple and does not represent an economic cost, at least at the beginning. But it is worth it.

Now we want to explain other relevant aspects of the digital era that must be taken into account by insurers who want to revolutionize and be competitive today: 

1. Mobile: New contracts in minutes

Just as people make purchases of all kinds from their cell phones at home or on the street without having to move to another site, insurers, to join the transformation of the digital age, must offer this type of service.

Therefore, through their web portal, the most recent insurance companies allow the acquisition of their services in a few minutes, without loss of time or unnecessarily long procedures, but without losing their legality.

In the modern world, people want to be able to acquire what they want quickly, so this type of advantage undoubtedly greatly increases the assets of an insurer.

2. Data: Information for progress and development

Many insurers operate in a standard way due to a lack of real and current information on their audiences and new market demands. This may be due to the cost of collecting the information, or because of the difficulty of knowing how to use it to improve various aspects of the products offered by insurance companies.

Nowadays there are tools and systems that facilitate the collection and integration of data.

3. Customization: Everyone hires what he/she needs

In the beginning, insurance companies, since there was reduced market, were able to offer services to each person on an individual basis.

This important characteristic was lost over time and that’s why standard packages and programs were created.

Nowadays, new clients give great weight in their opinions to those services that are highly personalized, since, again, it is another way of getting closer to the clients and their real needs. That is why new offers must be specific to each person.

4. More Customization: Pay for what you use

One of the most striking features of the customization of services offered by insurers is the reduction of premium costs for end users by paying only for what they use and not for complete packages that they will not get the full benefit of.

Finally…

​​It is important to remember that the impact of this digital era has a very large socio-cultural component, and this is something that is constantly changing.

What is fashionable today, or what customers prefer, will be different in a few years, so entering the digital era means opening the doors to a new world of constant and very dynamic changes.

In the case of insurance companies, the one that gets more customers and achieves greater success is the one that adapts to modernity first than the others. Do you want to transform your insurance company and don’t know where to start? Contact us and schedule a DEMO.

The digital era itself is inevitable. However, part of this abrupt and marked change is due to the fact that the new target that is being incorporated into the labor market are people who were born in the technological era.

The Digital Era has a series of aspects that must be evaluated with a great dedication by any of the insurance companies that want to join this time of changes and get a good position in the market. That’s why it’s convenient to carry out a proper review of the most important aspects of the era.

Before starting, it is key to remember that the process of digital transformation is not simple and it’s definitely not something economical. To enter this competition it is necessary to invest a lot of money in studies and human resources if you really want to make it work.

On the next points, we have broken down the most important aspects of the Digital Era that every insurance company should think when transforming:

1. Social: An interconnected world by applications and social networks.

The world is highly interconnected by applications and social networks. If a company wants to start participating in e-commerce it is importan that it first enters the world of social networks.

2. Social: Channel’s Dynamism

The social networks should also serve as interactive channels so that people can express all their doubts before contracting any service, and for this, human personnel are needed to take charge.

The dynamic of social media allows to win followers and have people engage in their publications, which help the company communicate with their potential customers in a direct or indirect way.

3. Mobile: Availability at all times

Most of the people in the world who are active at work have a smartphone or cell phone, which allows them to perform many operations in a few minutes without moving or leaving their homes.

This implementation of the digital era has been joined by large industrial platforms such as banks that allow the movement of money to pay for services or receive it without going to the branches. To this end, they have developed Internet portals and applications that serve as channels between the customer and the company.

The same has already happened with several insurance companies worldwide, as they offer their services and allow instant communication to solve problems in a few minutes.

4. Mobile: Temporary solutions for claims

Through the cell phone and with the help of the appropriate channels, a customer will be able to provide a large amount of data on the claim in real time, such as location, type and magnitude.

In this way, the insurer will be able to offer temporary solutions to its customers, such as a vehicle for the person to travel from the site of the claim in the event of a vehicle collision.

Finally…

The digital era is much more complex than it seems at first glance; it is not simply a matter of digitizing the platforms or the insurance company’s operations.

It involves a process of development and continuous study by people specialized in the subject, since constant innovation is the key to success.

We invite you to read the second part of this interesting topic! Expect it soon.