February 2021 – This report is a digest of recent Novarica research on how changes in technology are affecting insurers’ customer engagement capabilities, processes, and results.
The growth of new digital and analytical capabilities is changing customer engagement. Technology has influenced how customers expect to engage with insurers. Many demand direct online purchasing and self-service. Insurers are also investing in analytics and AI to more proactively target customers and predict behavior.
Many customer engagement initiatives focus on improved self-service or communication with policyholders. Business impacts include sales growth, improved risk selection, and improved targeting.
This report presents a digest of Novarica research on the topic of distribution, culled from reports on business and technology trends, technology-enabled capabilities, and the impact of emerging technology as well as core systems plans, vendor information, and insurer case studies.
A list of source reports appears in the appendix.
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