To meet the expectations of the current client, having the ability to adjust its offer to the reality of each client, with the hyper-personalization of the rate according to the healthy habits of the client, solutions that allow this agility will be vital for insurers.
With tools, such as Unified Product Platform, that allow the offer to be adjusted to the reality of the client, together with the total transparency of information that digital allows, insurers generate value for the client. On the one hand, the client has clear access to information, which helps him when choosing the policy. On the other hand, the transparency of information reinforces your trust with the insurer and the personalization of the policy benefits the rate and final conditions.
For insurers, as customers are more available to share information regarding their healthiest habits (Running Apps, for example), this makes it possible to take advantage of this data to help measure different health parameters and work on different health metrics, predictive analysis and thus draw some risk profiles as well as incorporate this data into the product rules and thus offer adjustable insurance to each client, anticipate needs and personalize customer service.
For today’s consumers, it is essential to have a comprehensive experience (unique experience regardless of the channel) and access a wide range of value-added services. For all this, digital platforms, chatbots, wearables, etc., are vital for insurers that want to offer their clients a more attractive and complete experience. The combination of these tools with the system that has the rules of its products is essential to provide the customer both with a unique experience and with the improvement of the operational efficiency of the business.
With the agility to connect and disconnect from different data sources, through APIs, insurance professionals have a 360º vision of the client and are able to provide them with a more precise and quality service. When combined with the automation of some processes, this ability to manage data from different sources and to personalize its use allows the insurer to minimize errors, improve the user experience and optimize its operational efficiency.