The COVID-19 endemic became a wake-up call for digital adoption in insurance. But it can also serve as an opportunity for them.
For one thing, they can keep up with competitors. But if they don’t so, they can lose market appeal.
In these critical times, what happened to digital adoption in insurance?
Read on to learn more.
Today, people want fast services. At the same time, it should be personalized to other needs.
That is why many industries prioritize digital adoption. Still, the COVID-19 pandemic accelerated this change.
So, insurance companies today find ways to offer digital solutions. For one thing, it helps them reach more potential customers. Also, they can give the best service to the ones they have now.
Let’s talk about some examples of digital adoption in insurance.
Examples of Digital Adoption in Insurance
Insurance executives, we’re caught off guard because of the pandemic. Now they hurriedly adopted digital solutions. For example, they now have remote ways of working.
At the same time, they use more technologies now. Of course, this has been happening for years. But now, it is out of sheer necessity.
For example, online platform services like Ping An’s Group Doctor is now popular in china.
Many people are more than going to clinics or hospitals now. Since the start of the pandemic, they see up to 900% of adoption.
Using this platform, patients can connect to doctors wherever they are. So, they don’t need to go outside anymore. Aside from the accessibility, they can protect themselves from the virus.
Another insurance platform in China is also popular. Here, clients can pay a small fee to join a collective in a different service. Now up to 300 million members share that.
China also partnered with Hong Kong. So access to medical information is faster, thanks to blockchain technology.
That helps customers make quicker payments. They can also use digital payment apps like Alipay to do so.
But, what are the top insurance services that people need now?
Automation in Digital Adoption in Insurance
As mentioned people now one easier and faster processes. In insurance, it can include the following:
- Fast response to questions
- Easier filing of claims
- Faster tracking of forms
- Straightforward tasks
But, they want that in one place. So it can be much easier.
For example, we can access it on one website. Or develop an application with those services.
Customers can also access live chat claim processing. Then, agents can offer options that fit every customer’s needs.
Here, the company can employ artificial intelligence and machine learning algorithm.
So they can automate the process. This will then result in a faster and quicker job.
Let us take the State Farm insurance company as an example. Using the app, customers can report that claim quickly.
Let’s say the customer had a car accident. He can send the picture of the car and automatically file a claim.
So, he doesn’t have to fill up papers or web forms. All he needs to do is to take a picture.
It will help the customer and the company saves time and effort.
WalkMe, a digital adoption platform, also helps companies and success in their journey. They can help simplify automation and onboard employees. So, you can have a smooth digital adoption journey.