Insurance companies and technology

According to Moody’s Investors Services, insurance companies around the world have acknowledged embracing technology changes since the start of the COVID-19 pandemic.

The pandemic has advanced projects utilizing technology to improve underwriting, distribution, and even some sales activities.

These companies are finding that expanding the use of technology is also improving customer experiences in this time of global upheaval and uncertainty.

The areas of the customer experience that are more impacted by lack of face-to-face contact are the initial sales call when the topic is a complicated financial situation such as estate planning.  To counteract this, many companies have started utilizing webinars, Zoom meetings, to help customers connect with a sales agent.

Generally, companies that have embraced technology are finding their customers appreciate the efforts to keep them safe while still having access to someone who can answer their questions.

Companies that regularly communicate with their customers using mail, e-mail, even webinars are finding customers are maintaining their coverage and even adding new products.

Think about the companies you interact with. What are they doing to keep you informed and safe in this current uncertain environment? How loyal are you to a company that leaves you in the dark on their plans for the future?

I hope you are doing well!

I believe in you!