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What Customer-Facing Tech Brings to Insurers

By CIOReview | Tuesday, August 4, 2020

The insurance industry uses technology to skyrocket its progress and attain new heights of success.

FREMONT, CA: The secret to the insurance industry bagging the greatest level of revenue is hidden in the level of satisfaction and happiness that the customers gain from an insurance firm. This is said to be achieved if the technology that serves at the outermost periphery of the industry manages to impress the customers to the fullest extent. Insurers are using the means of technology to greet the customers and streamline the front office tasks in order to reap higher values of revenue.

The industrial world is seeing a sea of competition. Modern insurance companies are equipping their services with the line of innovative features offered by the advancements happening in technology in order to stay ahead among the race led by the competitors. The spell of digital is not new to the insurance industry, but the value that it delivers to the insurers certainly is.

Insurers are functioning in an era where customers are more informed and highly updated about the trends in the market. Hence, in order to cater to the demanding customers in a right manner, insurers are adopting the latest range of technologies including ways to offer services from and to remote locations, providers customers with digital dashboards that keeps track of the premiums claims, incentives, waive offs, and more and also update the value in the dashboard upon changes instantaneously in real-time.

The pandemic has brought about a situation where the world, both business and corporate, operates mostly from home. In this wake, today, most of the insurance companies are making use of the customer-facing technologies such as chatbots to not only felicitate and acknowledge customers who visit the insurance company through digital modes such as website, online portals, and social media channels, but solves their queries, fetch new business deals for the company, collect all the required details for claims processing and other operations as well. 

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