Life, death, and taxes….and life insurance premium are the constants amidst a shifting risk landscape, all-time low interest rates. Customer preferences at touchpoints during important life events should be taken seriously. Within today’s scenario, industry players are undertaking tactical and strategic shifts in attempts to manage unpredictable market dynamics. Insurers must develop alternative products to breathe new life into policies and leverage emerging technologies (artificial intelligence (AI), data analytics, and blockchain) to improve efficiency, agility, flexibility, and customer-centricity.
Read the Capgemini report Top Trends in Life Insurance: 2020 for a look at the innovative steps future-focused insurers are considering to meet industry challenges and opportunities.