In a digital-first insurance company, the data management is automated, leaving licensed agents available to deliver personalized and superior customer service to the buyer. (Credit: greenbutterfly/Adobe Stock)
When new technology disrupts a legacy industry, it's usually consumers who demand and drive the change. Forty-eight percent of insurance consumers think the insurance industry is lagging behind technology. However, up to 72% of insurance consumers still purchase offline from an agent because they don't know that online, mobile-friendly insurance shopping is available today.
Anyone who has purchased insurance by phone and a series of back-and-forth emails knows how slow and difficult that process can be. For the insurance companies that still rely on call centers and salespeople to get customers, the cost of doing business the old way keeps going up, while the customer experience continues to suffer.
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