Automation will be the only way to stay in the market and be available for online users.
To increase both, productivity and market share.
Technology will set a measure for leadership among the new generation of business in the market.
To create financial assets of new integrated technologies.
Begin utilizing Pre-written products such as Motor, PA, Travel, Home, etc..
Getting insurance quotations can be as easy as clicking a button.
Coverage can be accomplished simply via a mobile app.
Our insurance markets in the Middle East and North Africa are still behind such progressive integrations by far.
Paper work and the typical insurance forms are mostly from the past.
It is an over dated technology.
Millennials are turning 40 this year. This is when they start to look at Insurance beyond travel insurance.
Strategies need to keep this in mind, going into the future.
Insurers are prioritizing digitalization to survive.
Regulations are changing to include digital processes.
Transitioning from a product led service to comprehensive integral solutions.
Shifting to deliver tailored product at a perfect price point via a friendly online user experience.
Customers are aware that digital communications mean that their insurer collects their personal data — anything from behavioral data to their location or any information they have submitted, and expect an improved and personalized experience.
Customers will judge and give a review on the whole experience all together. They do not look at every single interaction with their insurer in isolation. They treat any communication, no matter the channel, as a part of the whole.
During the Covid and post Covid era the Insurance provider were able to lead the industry with digital distribution, grow customer base exponentially, setup an independent brand for leveraging the industry strengths, grow revenue and customer loyalty, and transition from a product to a service-related base
Insurers can benefit from the digital shift of mindset in the following 4 sections
Technology is now reshaping the insurance industry, especially after 2020. Create your vision for the future of technology.
Evaluate current digital transformation efforts against those of your competitors. Accelerate investments in core technologies like cloud, data analytics and mobility.
Identify new avenues for digitally driven products, services and customer experiences that leverage growing technology capabilities
Focus on building technical wealth. Reimagine your approach to application development to take advantage of cloud capabilities, micro services and the flexibility they unlock. Focus on creating reusable components that are maximally valuable, not just minimally viable.
The future is here already. Begin piloting or scaling efforts and investments in next generation technologies like DLT, XR or AI. Leading in cutting-edge technology areas will be the main source of competitive advantage—make sure you have a strategy for them.
The first time a customer uses a new technology may be through your products or services. Conduct design thinking and strategic foresight exercises to evaluate how the enterprise will be brought closer to the customer in unexpected ways.
Make trust a core design principle of new technology strategies. Prioritize data privacy, ethical design and continuous governance as you build. Trust and adoption will go hand in hand for the next generation of products and services.
Obelisky is an insurance technology and solutions company focused on the following:
End to end digital distribution solution for implementation
Within your organization
For your partners
For your customers
Automated Programming Interface of different products
Digital pricing tools: Online tools with reinsurers
Tools to develop new customers: Leads generation
Solutions – Online and mobile enabled
Non-Insurance products’ cross selling
Automation: Daily operations:
Connecting your remote agents and outside office employees with internal systems online
Managing customers information and follow up system
Leads manager and CRM equipped with quotation tool
Auto generated emails patches to be send to clients
SMS advertisement and leads generation services
Instant online quotations using automated emails and/ or WhatsApp with quotations in PDF files attachment Automated online issuance
Facility of online payment and direct payment
Connecting clients’ domain to an automated programming interface
Connecting remote distribution channels with clients’ systems
Transfer data directly to reinsurers
Promoting products online in the market
Leads generation and Targeting relevant audience
Automation of issuing quotation
Friendly CRM to upload and manage existing leads
This CRM system is equipped with quotation tools
Quotation tools for Facultative and Treaty business
Online solutions for reinsurance brokers