User experience and customer interactions have become critical differentiators, driving a paradigm shift in the insurance industry. As business success is measured by the quality of customer experiences, insurers now have a chance to gain a competitive edge by delivering unparalleled service in this experience economy.
This is where Insurance 360 comes in. Defined by key insurance technology trends, Insurance 360 is redefining the insurance industry by offering companies a host of new competitive parameters and a world of customer intelligence.
Insurance 360’s powerful customer view feature
A 360-degree customer view enables insurance companies to unlock the full potential of their data seamlessly, and meaningfully. It creates pathways for internal data comms and adds verifiable truth to underwriting, claims handling, and regulatory compliance. A comprehensive customer view allows insurers to grow their insurance portfolios and significantly improve customer satisfaction rates with personalized interactions.
Storing an analytics platform in the cloud
Insurance 360 also empowers firms with the flexibility to adopt modern cloud-first apps, making efficient data aggregation and processing possible. The technology supports the implementation of 360-degree, enterprise-wide customer views and predictive analytics—at every stage of their journey—and reduces infrastructure costs dramatically. Importantly, this enables data process automation and time-to-market acceleration.
Roping in artificial intelligence (AI) and machine learning (ML)
Crucially, Insurance 360 allows insurance companies to integrate AI and ML processes into their workstreams. This, in turn, gives them the ability to process vast amounts of dormant data into usable insights which can unlock unprecedented levels of success in customer relationship management. Moreover, integrating AI and ML into insurance data workflows also allows for crucial competitive differentiators to become possible: personalized customer experiences and next best action recommendations.
What pivoting to Insurance 360 in today’s world means
Nowadays, customers don’t just buy products; they seek exceptional experiences. Numerous studies have demonstrated that, more often than not, customers are prepared to pay higher prices for qualities that matter to them, chief among which are convenience and a friendly user experience.
With Insurance 360, insurers can enhance every facet of their customer interactions and build comprehensive profiles that capture and analyze every step of the customer journey—from browsing to buying.
Our white paper provides a comprehensive overview of how Insurance 360 can help you unlock new opportunities. It offers key insights into the system’s integration with your existing infrastructure and outlines the necessary steps for transitioning to this solution.
Reach out to us to make the move today.
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