Magazine Table of Contents
InsurTech & Customer-centricity
Insurance used to be all about its products – but this is changing. Today, the ultimate target at the end of the journey for an insurer is true customer centricity with a seamless experience. This has become as important as the insurance product itself. To achieve this, InsurTech is a much-needed tool. Our Cover Story examines the two concepts of customer centricity and InsurTech, with insurers having to work towards meeting their customer needs in today’s technology infused world.
The insurance industry is being disrupted by the same big wave of change and innovation that has rolled through the communication, entertainment, tourism, and retail sectors. Insurers have traditionally focused on strengthening technical product capabilities, but new technology-led players are accelerating the pace of change the industry faces. Mr Axel Roesner of Generali explores.
Most insurance companies have now come to accept the importance of digital and have sought to incorporate some form of InsurTech as support and enhancement for their operations. But is it sufficient? Can the transformation agenda from analogue to digital progress purely by incorporating digital as a business support function? Or should the concept of integrating InsurTech look beyond the current paradigm of performance metrics and utilise new, forward-looking ones to allow digital as a separate business unit to be judged on its own worth?