Honey Insurance’s Post

🎯 With the rise of the digital era and the integration of technology in everything, customer expectations are evolving. This Dussehra, take the lead with your branded insurance platform and app for your customers.Boost your brand, manage leads effortlessly, and deliver seamless insurance and wellness services. Your clients expect the best —and you deliver Your Brand. Our Tech. A Winning Partnership. #HappyDussehra _ _ _ #InsuranceIntermediaries #LeadManagement #InsuranceApp #Technology #insurancebroker #insurance #WhiteLabel

The insurance industry has transformed due to economic shifts, consumer behaviour changes, and technological advancements, necessitating rapid adaptation and digitalization measures for growth.   Within this landscape, the insurance market is witnessing heightened competition, intensifying the need for rapid adaptation to maintain a competitive edge. Both traditional incumbents and new Insurtech entrants are vying for market share, compelling insurers to differentiate their offerings, innovate products and services, and explore new distribution channels in an increasingly crowded marketplace.   $170 billion in premium is at risk over the next five years as customers switch carriers due to not being fully satisfied by the claims process. Additionally, underwriters are spending 40 percent of their time on non-core activities, representing an efficiency loss of $85-$160 billion over the next five years.   Economic fluctuations, including inflation and recessionary headwinds, have direct implications on the insurers’ profitability, investment returns, and underwriting practices. In fact, auto insurers lost an average of 12 cents on every dollar of premium they collected in 2022—the worst performance in more than 20 years.   Concurrently, evolving consumer preferences and behaviours, propelled by digitalisation and a demand for personalised experiences, necessitate insurers to embrace digital transformation initiatives to meet the expectations of tech-savvy customers and provide seamless omnichannel experiences.     #OCTOINSIGHTS #INSURANCEPROFITABILITY #INSURANCE  #UNDERWRITING #INSURTECH

The Essential Guide to Thriving in Insurance with Technology In the era, where the click of a button can book flights or order dinner, technology is clearly reshaping industries at an astonishing pace. The insurance sector is no exception. Gone are the days when the industry relied solely on human agents and age-old practices. It has shifted from a reliance on travel agents to an online-first model, enhancing efficiency, customer experience, and accessibility. #InsuranceTech #Insurance #Finanical #Business #DigitalTransformation #InsuranceIndustry #CustomerExperience #FutureOfInsurance #DigitalRevolution

🤔 Are you ready to respond to changing customer expectations of their insurer? Customers increasingly expect insurers to be organized around them, meeting them where they are in life. Are you set up to meet that expectation? And if not, how can you get there? Our industry experts (from esure Group, Ecclesiastical Insurance, and FintechOS) are here to talk you through how customer demands are changing, what it means for you, and how you can meet the new expectations. 👀 Watch 'Insurance for every life stage' now >> https://shorturl.at/wAbiJ #webinar #insurance #insurers #ecosystems #cx #customer

Gone are the days of one-size-fits-all policies. With the rise of digital distribution, insurers are now offering personalised, on-demand solutions that meet customers exactly where and when they need them. 🔑 📈 With the insurance market growing at 13% annually, digital channels are crucial to capitalizing on this demand. Want to know how? Read more here: https://bit.ly/3Z7Xvz8 #Zopper #Insurance #Tech #Digital #Innovation #Consumer #Trends

Access here: https://lnkd.in/dfQZFWUN AM Best has maintained its market segment outlook for the US #life/#annuity #insurance segment at Stable, supported by strong capitalization across the industry, robust top-line growth in core lines of business and consistent profitability trends. #lifeinsurance #annuityinsurance #insuranceindustry

Tick tock, tick tock - time's running out! Last week we got to spend some time with the ever insightful Peter Ohnemus of dacadoo fame. But you can hear from him yourself - check out this webinar with special guest Edward Moncreiffe, CEO of HSBC Life where you can: 💡 Explore how Digital Health Engagement Platforms are enhancing the Bancassurance industry 🕵♂️ Discover how these tools can help boost customer engagement & streamline operations 🚀 Give your business a competitive advantage in today's market. The topics up for discussion will include: ➡️ Unveiling HSBC's Well+ App Rollout: Insights and Lessons Learned ➡️ Building Strong Client Relationships: Strategies for Life & Health Insurance providers ➡️ Driving Engagement Forward: Perspectives from the C-Suite ➡️ Adapting to Mobile-First Trends: HSBC's Approach to Superior Customer Experience It's on tomorrow, so register today: https://lnkd.in/dtxGJ4hN.

🚀 Sia Partners' 2024 Non-Life Digital Customer Journey Benchmark 🚀 For the fourth consecutive year, Sia Partners showcases how insurers worldwide are evolving their digital customer journeys for prospects for both car and home products.   Insights from our evaluation of 142 insurers across 15 countries highlight key takeaways, including:  🏆 AXA Belgium claims the #1 global spot, showcasing exceptional digital maturity and innovation with their combination of both digital and brokerage. The Belgian top three is completed with 🥈Belfius Direct and 🥉 Yuzzu, two Digital Insurers that show strong progress in the Belgian market. KBC follows closely, being the first Bank Insurer in the local market.   👏 Also congratulations to the other top performers - Flora by Ethias, Ethias, ING, Beobank, AG Insurance - for continuously pushing the boundaries of digital insurance.   Check out the slides to find out more about this fourth edition of Sia Partners’ Global Non-life Digital Customer Journey Benchmark. Or visit our website: https://lnkd.in/eT4KvHzw

Enhancing Insurance with Value-Added Services 🚀 Research confirms the transformative impact of integrating value-added #services into insurance offerings, helping to: ❇️ Boost customer satisfaction 😊 ❇️ Drive profitability 📈 ❇️ Strengthen customer relationships 🤝 At LiveWell by Zurich we’re leading the way by combining #insurance with #holistic #health and #wellbeing solutions 🌱. This innovative approach not only meets customers’ evolving needs but also creates deeper #engagement and #loyalty. How is your organization leveraging value-added services to enhance value and build stronger relationships? Let’s discuss—share your thoughts below! 💡 #CustomerEngagement #ValueAddedServices #Innovation #InsuranceIndustry LiveWell by Zurich

The insurance stands to gain invaluable insights from the innovative practices of the healthcare 🏥and retail 🛍️ industries. These sectors have not only embraced digital technology but have also set new standards for customer engagement and service delivery. Check out our latest blog to learn how insurance can leverage cross-industry innovations to redefine the insurance landscape. #blog #insurance #crossindustry #insights #digitaltransformation