How digital enables growth in Insurance


In the first of a series of three insights on what digital transformation means for Insurance firms, Mason Advisory, gives us an overview of the challenges and talking points within the industry.

Despite the challenges in the wider economy over the last year, there remain great opportunities for growth within the Insurance industry, and the Financial Services sector as a whole. Underlining this growth and a focus for continued serious consideration is improving customer experience to retain profit and attract new revenues. Understanding what their customers are looking for has proved to be a sticking point for insurers previously. Digital experience has improved this with better access to information and services, but opportunities remain to offer more tailored service to customers, especially given the data at insurers’ disposal. This can enable multi-line insurers to assess a customer’s complete needs, and insure them as a ‘whole’, rather than a series of disparate products to manage.

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