Customization, the new trend in insurance carriers

Cath Sandoval
Copywritter

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As we explained in the previous article, the digital transformation process is not something simple and does not represent an economic cost, at least at the beginning. But it is worth it.

Now we want to explain other relevant aspects of the digital era that must be taken into account by insurers who want to revolutionize and be competitive today

1. Mobile: New contracts in minutes

Just as people make purchases of all kinds from their cell phones at home or on the street without having to move to another site, insurers, to join the transformation of the digital age, must offer this type of service.

Therefore, through their web portal, the most recent insurance companies allow the acquisition of their services in a few minutes, without loss of time or unnecessarily long procedures, but without losing their legality.

In the modern world, people want to be able to acquire what they want quickly, so this type of advantage undoubtedly greatly increases the assets of an insurer.

2. Data: Information for progress and development

Many insurers operate in a standard way due to a lack of real and current information on their audiences and new market demands. This may be due to the cost of collecting the information, or because of the difficulty of knowing how to use it to improve various aspects of the products offered by insurance companies.

Nowadays there are tools and systems that facilitate the collection and integration of data.

3. Customization: Everyone hires what he/she needs

In the beginning, insurance companies, since there was reduced market, were able to offer services to each person on an individual basis.

This important characteristic was lost over time and that’s why standard packages and programs were created.

Nowadays, new clients give great weight in their opinions to those services that are highly personalized, since, again, it is another way of getting closer to the clients and their real needs. That is why new offers must be specific to each person.

4. More Customization: Pay for what you use

One of the most striking features of the customization of services offered by insurers is the reduction of premium costs for end users by paying only for what they use and not for complete packages that they will not get the full benefit of.

Finally…

​​It is important to remember that the impact of this digital era has a very large socio-cultural component, and this is something that is constantly changing.

What is fashionable today, or what customers prefer, will be different in a few years, so entering the digital era means opening the doors to a new world of constant and very dynamic changes.

In the case of insurance companies, the one that gets more customers and achieves greater success is the one that adapts to modernity first than the others. Do you want to transform your insurance company and don’t know where to start? Contact us and schedule a DEMO.

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Cath Sandoval

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