Digital transformation in the insurance sector

[shammis606]

Digital transformation in insurance , as has occurred in other sectors, has become a key element when it comes to attracting customers, especially considering that most people who take out insurance for the first time can already be considered digital natives .

That's why today we're going to tell you everything you need to take into account so that your insurance company doesn't fall behind in an increasingly technological world that, on the other hand, is making the work of these types of companies easier every day.

The digital client
The insurance sector customer in Spain remains loyal and truemoney database demanding, but has stopped prioritising in-person contact . It is no longer enough to have a pleasant physical office with the best staff; now you have to be present on the Internet, offering everything that a physical agent could solve, but remotely and, preferably, with access from a mobile phone.

The rise of online transactions following the COVID-19 pandemic has forced the insurance sector to digitally transform in order to retain an increasingly digital customer. If transactions can be carried out from the comfort of your own home, why waste time and money travelling to a physical office?

However, to offer this type of services it is necessary to integrate digital tools that allow this digital transformation to be carried out in insurance .

CRM for Insurance Agents: Anticipation, Identification and Problem Resolution
Having the best software for insurance companies that allows you to offer all products and services remotely, anticipate and identify possible setbacks and, more importantly, find solutions to them, is essential.

In this sense, it is essential to have an ERP for insurance companies that allows you to gather all the information about your business in one place, as well as work with it to keep everything in order. However, continuing with the digital customer , this is not enough.

Furthermore, in the digital transformation in insurance, it is necessary to have a CRM for insurers that allows managing the entire relationship with customers , offering a service of the highest quality and a personalized experience down to the last detail, exactly what customers demand today.

Insurtech: challenges and opportunities
What is insurtech? This concept, also known as insuretech , is actually a mix of two other English words: insure and technology . Or in other words, insurance and technology . Thus, when we talk about insurtech we refer to all the technological innovations that are taking place in the digital transformation of the insurance sector .

The integration of Artificial Intelligence, Machine Learning and Big Data tools in insurance companies is making it possible to automate countless processes and offer customers exactly the products and services they need when they need them most. This translates into an increase in digital customer satisfaction.

Blockchain in insurance
Following the success of blockchain in healthcare and finance , this blockchain technology that distributes information across different nodes and enables unequivocal authentication of the same has shown that it also contributes to digital transformation in insurance.

Thanks to it, it is possible to customize digital contracts to unsuspected limits, turning them into smart contracts. In addition, blockchain is also beneficial for customers, since this new model can reduce the cost of certain insurance policies .