Why Innovation Is Key to Growth of Insurance Industry
Great Customer Experience Is One Way To Attract Millennials to Insurance
July 6, 2017
MIC Named in Tanzania’s Top 100 Mid-Sized Companies
November 23, 2018
Innovation is a powerful tool of staying relevant and moving ahead of the rest in the ever evolving consumer market. It can do the same in insurance even as new and well-funded technology-based start-ups pose a real threat to industry giants.
While innovation alone will not guarantee the sustainability of insurers, it holds the largest share of responsibility towards this end. Already we have begun seeing change in that direction with some of the insurance companies in Kenya and South Africa adopting digital changes to serve their clients better.
Thanks to the proliferation of smartphones and other software development tools in Africa, we are seeing the emergence of innovative digital platforms that offer users and potential clients better information and transparency.
Insurance companies that leverage on some of the technological advances will continue to thrive as the rest play catch up. Technology has unearthed opportunities that are not only exciting to consumers but also convenient as far as adoption and servicing go.
Data also informs decision-making across industries. Data technology has in the recent past transformed risk which is the primary element of the insurance business model.
Technology has changed the way data is created, captured, analysed and stored. Insurance firms have many sources from where they can collect data and help create important and personalised products, helping in the management of risk. By 2020, it is estimated that there will be more than 20 billion devices connected to the Internet. Insurance companies that will strategically position themselves for this transformation will reap big in the home, health and car insurance sectors.
12 Comments
7t7wg1
0y637z
nu5ndq
5k3kfy
How can innovation and technology help insurance companies improve customer service and manage risk more effectively?
re777slot is my go to spot for weekend sessions. The games feel fair and I appreciate how transparent the payout rates are displayed. It is refreshing to play somewhere that respects my time and keeps the experience clean. re777slot
C444gameapk is legit! Downloaded the app and it runs smooth. Gameplay’s solid and graphics are decent. Easy to get into. Maybe needs more games, but worth a download. Get hooked: c444gameapk
I am a huge fan of slots and this site delivers exactly what I look for. The library is massive with titles from all the major developers. Deposits go through instantly and I never wait long to cash out. It is rare to find a platform that balances entertainment with reliability so well. megavisa88slot
Hey there! Been using 91damanlogin for a bit and gotta say, it’s pretty decent. Sign-up was smooth, and I haven’t had any major issues. Could use a bit of a UI refresh, but overall, a solid experience. Check it out here: 91damanlogin
As a regular from South America I really appreciate how they support our local payment options without charging hidden fees. The live casino dealers are super friendly and the chat features make the experience feel warm and welcoming. I recommend this spot to all my neighbors. ecacuabet
I have tried quite a few spots out there but this one really stands out for me. The interface is so easy to navigate and the bonuses actually make a difference. It feels like the team truly cares about our experience and listens to the community. Huge thanks for keeping things fresh and fair. mxmex90
I used to struggle finding a platform that actually delivers on its promises but this one blows me away every month. The mobile app is lightweight and the support crew solves issues in minutes. Highly recommended for both newbies and veterans. 188bettaptap