COVID-19 Impact: Insurance Business Growth with Artivatic.ai
As we all going through the epidemic scenario of COVID-19 and it impacting in all ways. Insurance companies are impacted in terms of their Distribution, Sales, Operations & Customer Servicing. Some of the challenges these Insurance companies are facing:
Lack of unified systems and multiple processes due to redundant systems causes challenge in processes inside the business and impact the overall performance.
Business or Sales Growth — Agent or Advisor driven business problems
Advisors or Agents are unable to travel or meet people during current working conditions. This is important to serve customers digitally but in absence of the solutions, it gets difficult.
Customer Experience Issue
Due to COVID-19, customers are unable to make get in touch for buying products or filing claims due to no access to solutions.
Launching new micro or on-demand insurance products
Due to legacy systems, it is difficult to launch new products & solutions to the customers need. This is also impacting in top-line of the insurance companies.
Artivatic as being an Insurtech Platform is hereby to help mitigate these risks to the insurance companies not only during COVID-19 but enabling them to be future ready.
Artivatic do suggests that Insurance companies must enable remote distribution via way of integrating video, speech based technologies with integrated OCR/ICR processes so that entire journey can be automated, digital, and remote. This will enable advisors to connect with clients remotely via way of 2 way video system, monitoring of behaviours, speech processing in real time. Some of the areas where Artivatic can support:
More details are in the Attached PPT as How Artivatic can enable Insurance companies to be FUTURE READY.