68% of customers don’t believe their insurer will attend to their long-term financial well-being
Insurance companies are under pressure to meet rising customer expectations, address ever-evolving regulations and security threats, and optimize and expedite claims processing. This is driving a demand for solutions that help improve the customer experience, enhance information exchange, digitize claims processing, protect personal and confidential data and mitigate compliance risk.
With 62% of financial services workers saying the overall employee experience positively impacts their ability to serve customers, there is a renewed focus on employees.
Companies are enhancing machine learning, process mining, process automation and API integration use to replace high complexity levels with end-to-end automation.
Online, convenient transactions continue to ramp up, with 80% of all customer interactions expected to happen via digital channels by 2025.
There is a continued move from product- and service-based transactional business models to personalized, intelligent and proactive customer engagements.
The rise of low-code development platforms is driving seamless digital experiences and re-engineered processes around customer and employee needs.
A need to modernize legacy applications and shorten service launch timelines has accelerated the pre-pandemic cloud migration momentum.