While not all car accidents cause serious injuries, even minor ones can lead to significant costs and challenges for everyone involved. For example, damage to your client's vehicle may require costly repairs. And while the car is out of commission, your client may need to rent another vehicle or take public transportation.
The start of a new year is a great time to implement changes. Individuals make New Year's resolutions to improve themselves, whereas organizations use these to set achievable goals toward business growth.
If you need ideas for New Year's resolutions for your insurance company, here are some to consider:
Improve customer service
This year, find ways to improve customer service.
Since 2016, the finance and insurance industry has consistently ranked first in the top 10 industries that are attacked the most by cybercriminals. The number of cyberattacks in the insurance sector, specifically, has grown exponentially. Even the sector’s giants fell victim to cyberattacks in 2020 and 2021:
Cybersecurity insurance provider Chubb was hit by the Maze ransomware group.
In today’s extremely competitive business environment, US companies must constantly find ways to “cut the fat” so they can focus on core operations that drive growth and profitability. For insurers like you, that core activity is selling policies.
In today’s cutthroat insurance industry, US insurers are constantly on the lookout for technologies that can help them improve their efficiency, keep up with changing demands, and gain a competitive edge. To guide you in your search, here are four fields of IT that you should focus on:
1. Predictive analytics
Predictive analytics involves gathering, mining, and analyzing historical data to forecast possible future outcomes.
Records play a huge role in the work of all insurance companies, whether they handle policies for life, health, disability, automobile, or others. For life insurance policies, for example, they use medical records in evaluating an applicant’s risk.