Operational Efficiency

Customers now have a number of ways to discover, research and purchase policies, so the customer journey has become less linear.

They still require far too many manual steps. The good news is that digital platforms and tools can greatly accelerate the process.

The traditional business model has been resilient, but insurers must strive to exceed the evolving expectations of customers.

While fraud is declining in most industries, it is rising in insurance, where emphasis on quick "time to bind" blocks countermeasures.

AI can drive productivity gains and product innovations and improve the employee experience, so the future is bright. 

Decades into the digital age, customers still fill out paper forms, repeatedly provide the same information -- and get frustrated. 

Satellites and drones, AI-based analytics and photo analysis, and blockchain can reduce insurance fraud greatly. 

It will. The new era of natural language processing will contain costs, improve customer experience and fight off new competition.