It is getting close to that time of year again when the insurance industry starts to looks ahead to the next year; trends, regulation, new tech & more.
Pandemic disruption has driven greater digitalisation within the insurance sector, bringing many new opportunities for both insurers and carriers to the fore – but how will firms keep up with the growing demand and evolving consumer needs?
Capgemini has released its 2022 Top Trends in Life Insurance Report, which analyzes the top trends in the sector that life insurers are exploring in order to succeed amidst the evolving business landscape.
Some of these key trends include:
· Insurers are increasingly digitalizing distribution channels to provide enhanced Convenience, Advice and Reach (CARE), and they are empowering agents and brokers with advanced tools that boost the ability to engage with policyholders and sell more effectively.
· More life insurers are adopting cloud platforms to gain operational agility which will accelerate innovation and seamless collaboration with ecosystem partners.
· Insurers are leveraging alternate data sources and AI technologies to generate actionable customer insights and make processes across the value chain more efficient.