Apac
  • Home
  • CXO Insights
  • CIO Views
  • News
  • Conferences
  • Newsletter
  • Whitepapers
  • About us
Apac
  • Admired Tech

    Agile

    AI Healthcare

    Artificial Intelligence

    Augmented Reality

    Aviation

    Big Data

    Blockchain

    Cloud

    Cryptocurrency

    Cyber Security

    DevOps

    Digital Transformation

    Drone

    HPC

    Infrared

    Internet of Things

    IT Services

    Marine Tech

    Networking

    PropTech

    Remote Work

    Robotics

    Scheduling Software

    Sensor Tech

    Simulation

    Smart City

    Software Testing

    Startup

    Storage

    Unified Communication

    Web Development

    Wireless

  • Automotive

    Banking

    Capital Market

    Construction

    E-Commerce

    Education

    FinTech

    Food and Beverages

    Gov and Public

    Healthcare

    Insurance

    Legal

    Logistics

    Manufacturing

    Media and Entertainment

    Metals and Mining

    Pharma and Life Science

    Retail

    Sports

    Travel and Hospitality

  • CISCO

    Google

    IBM

    Microsoft

    Oracle

    Salesforce

    SAP

    ServiceNow

  • Business Intelligence

    CEM

    Cloud-based Planning

    Cognitive

    Collaboration

    Compliance

    Contact Center

    Contact Tracing

    Contactless Payments

    Corporate Finance

    CRM

    Custom Software Development

    Data Center

    Digital Signage

    Enterprise Architecture

    Enterprise Asset Management

    Enterprise Communications

    Enterprise Contract Management

    Enterprise Performance Management

    ERP

    Facility Management

    Field Service

    Fleet Management

    Gamification

    HR Technology

    IT Infrastructure

    IT Service Management

    Managed Services

    PLM

    Procurement

    Product Management

    Project Management

    RegTech

    Revenue Management

    Sales Tech

Menu
    • CISCO
    • Collaboration
    • Compliance
    • Contact Center
    • Healthcare
    • IT Service Management
    • Microsoft
    • Retail
    • MORE
    #

    Apac CIO Outlook Weekly Brief

    ×

    Be first to read the latest tech news, Industry Leader's Insights, and CIO interviews of medium and large enterprises exclusively from Apac CIO Outlook

    Subscribe

    loading

    THANK YOU FOR SUBSCRIBING

    • Home
    • News
    • Insurance
    Editor's Pick (1 - 4 of 8)
    left
    InsurTech and the Benefit to the Business

    Brendan Mills, CIO, nib Group

    Diverse Environment Presents Challenges, Opportunities

    Helen Attenborough, CIO, Asia Pacific & Latin America, QBE Insurance

    Establishing Trust from Business Stakeholders

    Ash Shah, Regional P&C CIO and Chief of Staff, AXA, Asia Region

    Reinventing Capabilities Across Insurance Value Chain

    Raymond J Oral, CIO, CNA Insurance

    Innovation challenges and the Insurance Broker

    John Petersen, CIO, Heffernan Insurance Brokers

    Technology as Key Driver for Reduced Insurance Cost

    Paul Brady, VP & CIO, Arbella Insurance Group

    Enterprise Mobility: Still Needs a Sound Business Case

    Henkten Bos, CIO, Ageas Insurance Company (Asia) Ltd

    Consumer Insight, Experimentation and Other Winning Strategies for the Insurance Disruption Game

    Louise Billmeyer, VP & CIO, Principal Financial Group

    right

    Key Trends Transforming the Landscape of Life Insurance Sector

    By Apac CIO Outlook | Tuesday, August 04, 2020
    Tweet

    When it comes to buying something as important as a life insurance policy, customers prefer strictly personalized experience. Artificial intelligence has created such a possibility where insurers can offer a personalized experience in accordance with the customers' demands.

    Fremont, CA: Technology advancement has changed the aspects of the life insurance sector. Comparing life insurance quotes is now just a click away. One can easily manage coverage or check policy status via mobile apps. Nowadays, paper insurance is not trendy anymore. Insurance technology is going to evolve even more in the years to come. With the progression of digitization wave, many trends in the life insurance sector are becoming popular.

    Let us look at some important trends in the life insurance sector:

    Artificial Intelligence

    Top 10 Insurance Companies - 2019When it comes to buying something as important as a life insurance policy, customers prefer strictly personalized experience. Artificial intelligence has created such a possibility where insurers can offer a personalized experience in accordance with customers' demands. With the help of artificial intelligence, insurance companies can improve the claim settlement ratio as well as can change the process of underwriting. Insurers now can get access to the data faster and more accurately. Thus, Artificial intelligence offers to the insurance sector not only speed but reliability as well.

    Chatbots

    As specified by some experts, it is estimated that, by 2025, 95 percent of the customer interaction will be performed by chatbots. AI-enabled chatbots can communicate with customers effortlessly, which saves the time and money of insurance companies. A virtual assistant can assist customers in the application process of policy or the process of filing a claim, enabling employees to focus on the complex cases. Chatbots are available to help 24x7. Hence, customers can clear their doubts or queries anytime via texts or voice.

    Social Media Data

    The popularity of Social media has influenced the life insurance sector in various ways. Social media data has improved the insurance buying experience for both insurers and customers as they are now able to assess risk and detect fraud before reaching any conclusion.

    See also: Top Artificial Intelligence Solution Companies

    See Also: Top Insurtech Companies

    tag

    Insurtech

    Insurance Technology

    virtual assistant

    Weekly Brief

    loading
    25 Most Promising Red Hat Solution Providers
    ON THE DECK

    Content Management System 2020

    Top Vendors

    Contactless Payments 2020

    Top Vendors

    Admired Tech 2020

    Top Vendors

    Previous Next

    I agree We use cookies on this website to enhance your user experience. By clicking any link on this page you are giving your consent for us to set cookies. More info

    Read Also

    Four Security Issues in IoT

    Four Security Issues in IoT

    Four Use Cases of AR/VR Technology in Employee Training

    Four Use Cases of AR/VR Technology in Employee Training

    Five Major Trends in Digital Transformation for Businesses

    Five Major Trends in Digital Transformation for Businesses

    How Blockchain Reinvents Regtech

    How Blockchain Reinvents Regtech

    Five AI Technologies to Help Boost Business

    Five AI Technologies to Help Boost Business

    Popular E-Commerce Growth Trends in 2021

    Popular E-Commerce Growth Trends in 2021

    Loading...

    Copyright © 2021 APAC CIOoutlook. All rights reserved. Registration on or use of this site constitutes acceptance of our Terms of Use and Privacy Policy  |  Sitemap |  Subscribe

    follow on linkedinfollow on twitter follow on rss
    This content is copyright protected

    However, if you would like to share the information in this article, you may use the link below:

    https://www.apacciooutlook.com/news/key-trends-transforming-the-landscape-of-life-insurance-sector-nwid-7548.html