Current Situation
There is increasing demand for intuitive digital platforms that empower consumers to research, compare, and purchase insurance products independently, enabling seamless self-service experiences throughout the entire customer journey.
There is a growing preference for personalized and customizable insurance solutions that enable consumers to tailor coverage options, adjust policies, and manage claims effortlessly, fostering a sense of control and convenience.
There has been a rise in self-service claims processing, where consumers increasingly seek streamlined processes that enable them to initiate and track claims digitally, upload necessary documents, and receive prompt updates, reducing reliance on traditional methods.
Insurers must integrate user-friendly data analytics and insights tools that empower consumers to assess their risk profiles, make informed decisions, and proactively manage their insurance coverage, fostering a sense of empowerment and financial well-being.
Goals and Objectives
Enhance customer satisfaction and engagement by providing seamless self-service options that align with the evolving preferences and expectations of digitally savvy consumers, resulting in greater convenience, control, and personalized experiences.
Improve operational efficiency and cost-effectiveness by leveraging self-service technologies and automation to reduce manual processes, streamline workflows, and optimize resource allocation, ultimately driving productivity and profitability for insurance companies.
Technology Deployed
Personal devices
Cloud
Content workflow and management applications
AI and machine learning (ML) technologies
Blockchain
Internet of Things (IoT)
Security software
Use Case Summary
Implement a fully automated, frictionless, self-service-enabled customer onboarding process to create a great first impression and reduce the overall onboarding time to avoid frustration.
Explore new digital technologies, including facial analytics (selfie-based onboarding), to improve speed and efficiency in the process.