But as some of the regulatory obstructions have disappeared, insurtechs have stepped in to take advantage of the new opportunity and remove friction between insurance providers and the end customer through technology. Thanks to insurtechs, the insurance industry can benefit from lower cost, better targeting and lower cost through the app implementation or become entirely digital.
Mobile
Despite the recent innovation, insurance businesses still underestimate the power of the mobile channel. The main factor of digital success is user experience which is impossible without the mobile-first approach to customers’ solutions:
- Field service management
- Claims management
- Insurance underwriting
- Microinsurance
- Insurance on demand
- Mobile telematics
