Generation Z came of age at a time when startup companies are using AI to simplify purchasing, communicate directly with customers, and apply analytics to their business. But frankly, this generation may not remember services or products without voice activations, personalized buying suggestions, and chatbots. As Gen Z becomes more influential as consumers, their expectations for services and interactions will include many AI-based offerings. Add the purchasing power of the Millennial generation with that of Gen Z, and all businesses must evolve to meet these collective expectations for technology.

The insurance industry, like many others, is quickly adapting and integrating…

Generally, billing continues to be an important part of an insurer’s customer service strategies. Billing is not purely a financial issue but has a significant role to play in the overall experience. After all, over the course of five years, a policyholder will have a single new business experience, four renewals, perhaps a claim or two (depending on the LOBs written), and 60 billing transactions — if they are on monthly billing.

Billing presents an opportunity to fulfill a brand promise of convenience and trust. But errors can be costly. These costs can be direct, as in the case of…

When faced with operational challenges most organizations will demonstrate a bias towards new technology solutions. The past year’s COVID-19 pandemic is showing that instead of inventing new solutions, finding ways to increase adoption of existing ones may be particularly effective. In our industry, lockdowns and social distancing have accelerated trends towards flexible work arrangements for employees and providing digital offerings for customers. Many corporate leaders are now realizing that what they thought were technological barriers to progress were instead human behavior challenges.

Some healthcare professionals are now suggesting phone consultations, which clearly emerged as popular, effective, and efficient during the…

Blockchain has gained a lot of attention in recent years. It has the potential to transform how insurance companies operate in this evolving digital age.

The truth is that blockchain technology is already helping insurance companies to save time, improve transparency, save time, prevent fraud, comply with regulations and develop better products and markets.

By preventing fraud, insurance companies could improve claims processes three times faster and five times cheaper using blockchain technology.

Blockchain technology is a distributed and decentralized public ledger, which is responsible for the powerful record-keeping technology behind Bitcoin.

With every blockchain transaction, insurance companies can tap…

We here are Inmediate has been developing our platform ever since to make sure that can be able to provide the best solution for all the insurers around the world using blockchain and Artificial Intelligence towards digital transformation.

We aim to make the insurance process fast, cheap, and flexible, making every insurance process better to create more time to market and have new revenue opportunities for both the insurance business and the insurers.

That is why we have created 3 kinds of solutions and services that can be able to ensure a safer and cheaper insurance environment that creates refined…

Blockchain technology is already helping insurance companies to save time, improve transparency, prevent fraud, comply with regulations and develop better products and markets ever since.

The cost of insurance fraud globally is amounting to over a billion per year. The good news is that insurance companies could improve claims processes 3 times faster and 5 times cheaper by using blockchain technology.

Blockchain technology is a distributed and decentralized public ledger, which is responsible for the powerful record-keeping technology behind Bitcoin.

With every blockchain transaction, insurance companies can tap into the rich deposits of resources to improve the way they do…

The current insurance tech startups, or insurtechs, are changing the way a retail customer buys insurance. Insurtechs are now present across the value chain — from the selling of a policy to claims settlement.

The insurance sector has been witnessing technological innovations, with big insurers are looking at the Internet of Things (IoT), wearables, and big data analytics. Regulators and government agencies have also been actively supporting innovation through enablers such as a regulatory sandbox.

But the covid-19 pandemic has forced insurers to become end-to-end digital. Incumbents have had to collaborate with digital platforms and insurtechs to maximize the opportunity.

There is no doubt that the insurance industry has traditionally been resistant to complete digitization, still relying heavily on paper-based applications in many areas, and on face-to-face contact (for example, from intermediaries to assess claims).

But COVID-19 changed all that. Almost overnight, the industry had not only to get people working effectively from home but also to accelerate its digitization plans. It was no longer enough to have a few discrete pilot projects being automated or digitized; paper-based processes and in-person meetings were simply not an option.

Some insurers were already well on their way to implementing digitization and intelligent…

Insurance sales are highly regulated and can require several procedures that change depending on a variety of elements. This makes it essential that digital systems can be easily adjusted to account for changing variables and regulatory requirements.

In this piece, we will discuss how automated workflows enable a seamless, fully-compliant, and efficient insurance sales process that also provides a superior customer experience.

Why partially digital sales cycles are failing insurance agents

Many insurance agents already make use of digital tools to sell more efficiently and easily to today’s impatient customers. Standalone tools such as eSignatures are now widely used. …

In the years to come, it is expected that every major company in insurance will be deploying blockchain in some form, as the number of applications the technology can bring to the sector grows every day.

It is projected that the blockchain market gearing towards the insurance sector is poised to grow 57%, compounded annually through 2026. This is bringing massive opportunities to FinTechs as well as insurers willing to embrace the change.

Among the most promising features of blockchain with applications for insurers are smart contracts, which can provide the means to handle claims through a process that is…

Inmediate.io

Introducing Inmediate: a platform on which customers, distributors and insurers using smart contracts connect. https://inmediate.io

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