Latest Trends In House Insurance In CalgaryPosted by johnhrq on December 27th, 2019 With the advent of disruptive digital technologies, new roadmaps for digital transformation are being rolled out in major insurance companies worldwide. New digital initiatives are being planned and implemented in Life, Property & Casualty, Automotive, Business and Home Insurance Calgary. The underlying objective of these initiatives is to utilize technology to make insurance more humane and more likeable by consumers. This trickles down to creating new products offerings & solutions that will: Some of the latest technologies in use are as follows: Artificial Intelligence (AI) There is an immense amount of historical data available with insurance companies and AI makes use of these large voluminous data-sets to build new solutions that seek to improve customer experience at various touch points – such as buying insurance, filing a claim or seeking to upgrade or modify an insurance policy. For example, some insurance companies are using “virtual assistant” bots on their websites. These bots are replacing service agents in call centers as they can quickly answer customers’ questions not only on specific policies, but also pay out claims in a matter of seconds. Some House Insurance Calgary companies are using AI based solutions to detect fraudulent claims. AI helps to flag such claims that do not look genuine. Personalization across all touch points One of the ways is offering usage-based and on-demand house insurance products. The other is offering innovative coverage options that include micro-insurance, peer-to-peer insurance, and more flexible coverage options. Although new, Blockchain technology relies on the ever-growing consumer need for massive amounts of customer data processing and a quick, efficient and secure method of transferring data across organizations. Blockchain technology facilitates data transfer and allows multiple stakeholders to be able to access its data. Using Blockchain it is possible to build and deploy solutions in identity access management, fraud management, claims processing and underwriting, at operational costs that are lower than traditional methods. Contribution by insure-techs Traditional insurance companies either work very closely with insure-techs by offering them incubation labs in their own premises, or sometimes even acquire them through an outright purchase, in order to leverage their technology advantage, implement their solution and have ownership over the IP of the solution. Advanced analytics Conclusion For more information about Auto Insurance Calgary and Business Insurance Calgary Please visit : Beneficial Insurance Solutions. Like it? Share it!More by this author |