A wave of innovation is driving change in the insurance industry as tech-savvy consumers demand a new breed of products that align with the rapid digitization of daily lives. As a result, challenger insurtech organizations have emerged, offering insurance for a day, on-demand policies and real-time claims handling.
Every business is now a digital business; insurance providers must embrace digital transformation to meet the needs of the modern user, or fall behind their competitors.
The key to this approach is understanding the genuine digital identity of applicants and policyholders using global shared intelligence to differentiate between trusted customers and potential threats. This helps Insurers make more accurate risk decisions during interactions with consumers, brokers/agents and aggregators, during underwriting and at claims.
Read our Digital Transformation and the Insurance Industry eBook to learn tips to drive digital innovation in your business and understand the true digital identity of applicants and policyholders.