Personal lines continues to be competitive with technology playing a larger role in insurers' abilities to attract, retain and serve clients profitably, and telematics is the new battleground in personal lines, Novarica says in its "Business and Technology Trends in Personal Lines" report.
Mobile applications are well established in personal lines, as are agent and customer portals. Most top personal lines carriers offer apps with accident checklists, agent locators and claims submission capabilities. But new priorities include advanced mobile capabilities and telematics, which require updates or replacements of core systems and expanding business intelligence to include predictive analytics.
Lower priority technology initiatives include billing, CRM, distribution management and specialized components.
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