Currently, the life insurance segment is affected by\ntechnological disruption, as new digital technologies compel insurance groups\nto either adapt or transform the way they interact with their consumers or fall\nbehind the competition.<\/p>\n\n\n\n
Technological advancement and changing customer choices are\ndriving this disruption. Customers now look forward to a seamless digital\nexperience from their insurance providers and demand easy convenience and\nextreme personalization.<\/p>\n\n\n\n
In this article, Igor Kaparis (the CEO of International\nFintech) will highlight important technology trends that are helping the\ndigital evolution of the life insurance sector.<\/p>\n\n\n\n
Being able to access and comprehend customer’s health data\nand life expectancy is essential to the life insurance sector. Insurers provide\npractice policy quotes based on how \u2018healthy\u2019 their customers are deemed to be\nto better predict payouts.<\/p>\n\n\n\n
Wearable tech offers a neat way of collecting health data.\nHealth-monitoring and fitness tracking wearable equipment have access to\nseveral health data such as activity levels, blood pressure, BMI, and more.<\/p>\n\n\n\n
Insurers have started using these wearable devices by\nrewarding policyholders that agree to record and allocate physical activity\ndata from these wearables. This allows insurance providers to offer a great\nlevel of interaction and personalization, and even enhance life expectancies.<\/p>\n\n\n\n
Robo advisors are one of the best technological innovations\nthat are transforming the life insurance sector. These AI-powered digital\nadvisors can assist customers to get the best policies when they browse\nwebsites. They can interact with possible policyholders like sales agents\nwould, collecting data and using it to advise on specific policies.<\/p>\n\n\n\n
This allows the insurance providers to offer a great level\nof personalization and interaction without having to expand their customer\nsupport team.<\/p>\n\n\n\n
Smart contracts are a blockchain application wherein\nresources from two different parties are held in escrow until the transaction\nis finished. It offers a secure, transparent, and safe way of handling the life\ninsurance claims procedures and ultimately enhances the consumer experience.<\/p>\n\n\n\n
Smart contracts are even raising operational efficiency in\nthe life insurance industry by cutting the role of third parties and helping to\nget rid of fraudulent claims.<\/p>\n\n\n\n
Don’t think comparison engines are new, they have been\naround in some form for many years, but they are now starting to take the main\nstage in the insurance sector. Rather than looking for policies directly with\nthe insurance provider, many people prefer to evaluate policies at a glance\nusing different comparison engines available online.<\/p>\n\n\n\n
These types of systems allow consumers\nto smartly compare quotes from dozens of providers without having to enter their\ndetails individually on each site. This dramatically cuts the time required to\nfind and compare insurance quotes and enhance customer experience.<\/p>\n\n\n\n
Considering the rising popularity of comparison engines,\ninsurers have to ensure they are considering this marketing channel cautiously\nand that they are listed on all important comparison website databases.<\/p>\n\n\n\n
Conclusion<\/strong><\/p>\n\n\n\n Dramatic changes are transforming the insurance sector, and\nforward-looking insurers are not simply watching it happen. Insurance providers\nare acting and making investments that will help them become more customer\nfriendly, enhance their pricing, and form operational efficiencies.<\/p>\n","protected":false},"excerpt":{"rendered":" Currently, the life insurance segment is affected by technological disruption, as new digital technologies compel insurance groups to either adapt or transform the way they interact with their consumers or fall behind the competition. Technological advancement and changing customer choices are driving this disruption. Customers now look forward to a seamless digital experience from their… Continue reading Igor Kaparis Defines Life Insurance Sector\u2019s New Technology Trends<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23],"tags":[],"_links":{"self":[{"href":"https:\/\/www.thinkfinanceinc.com\/wp-json\/wp\/v2\/posts\/408"}],"collection":[{"href":"https:\/\/www.thinkfinanceinc.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thinkfinanceinc.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thinkfinanceinc.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thinkfinanceinc.com\/wp-json\/wp\/v2\/comments?post=408"}],"version-history":[{"count":1,"href":"https:\/\/www.thinkfinanceinc.com\/wp-json\/wp\/v2\/posts\/408\/revisions"}],"predecessor-version":[{"id":416,"href":"https:\/\/www.thinkfinanceinc.com\/wp-json\/wp\/v2\/posts\/408\/revisions\/416"}],"wp:attachment":[{"href":"https:\/\/www.thinkfinanceinc.com\/wp-json\/wp\/v2\/media?parent=408"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thinkfinanceinc.com\/wp-json\/wp\/v2\/categories?post=408"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thinkfinanceinc.com\/wp-json\/wp\/v2\/tags?post=408"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}