The insurance industry continues to find itself at the tail end of digital use, as less in the E2E process. The last steps in the digitization of people are the online purchase of a lettuce and later, that of insurance.
The main reason is the lack of understanding of the product (we continue with products prepared for an agent sale moved online!), But also the underlying cognitive biases that lead to continuous procrastination (in the end it becomes a product that is sold and not a product that you buy).
However, this situation varies greatly by branch, digital maturity or training in the field.
The great opportunities specific to the sector are:
- The totalization of customers, not yet loyal to any brand and with a lack of awareness of risk beyond traditional insurance.
- The adaptation of products to the new needs and demands of customers: Payment by use, self-management, prevention.
- The use of technology and data to make processes more efficient and improve the experience.
- The consumerization of products for digital consumption.
- Contextualization in sales, taking advantage of touch points generated outside the channels traditional insurance companies that demand a platform mentality.