Saving on service costs
Business activity, customer interactions, and transactions are rapidly moving to a range of online channels including web, mobile, and social platforms. All of these channels must be developed to the highest standard of user-friendliness and security.
It’s important to get your customers online, but often struggle to achieve this. They typically focus on all the activities customers can do once they have an account, overlooking the process of getting a customer to create an account and start using it, also known as onboarding.
Streamlining internal processes
Insurance companies have to invest in IT to keep up with the market and resolve legacy IT systems. This will increase transparency and help facilitate compliance, among other things.
Market-specific regulations like the Pensions Act and Solvency II – as well as more general legislation such as the GDPR – are adding to the challenges of compliance.
Go to market
Insurance companies are struggling due to Legacy IT systems with setting up new products & propositions fast to measure and learn about product market fit. How can you set up new product labels, to interact digitally with your customers in 4 weeks?
Enabling secure mobility
The high penetration of smartphones, combined with the demand for personalized financial services will boost the need for a robust, integrated, and easy-to-use-secure authentication solution. Customers expect a seamless experience when engaging with insurance companies, particularly in their mobile apps.