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    Creating the best customer experience with insurtech


    ACORD, the global standards-setting body for the insurance and related financial industries,  explored the importance of customer experiences in a symposium in London on March 8 which was co-sponsored by RDT.

    Discussing the findings of its ‘Best Digital Customer Experience’ study of UK personal lines, ACORD focused on 1,200 carriers, brokers and aggregators and the services they provide to insurance shoppers. The study highlighted top performers and strategies for building successful digital businesses and strengthening customer relationships.

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    Insurance technology regulations need to encourage insurtech


    Insurance regulations should be developed in a way that encourages rather than hinders insurtech, according to a briefing by the industry body Insurance Europe.

    The report says that: ‘Insurance legislation, rules or guidelines should be digital-friendly, technologically neutral and sufficiently future-proof to be fit for the digital age and encourage digital innovation’.

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    RDT can help you embrace your Insurtech goals


    Did you resolve to embrace Insurtech this year, to reap the benefits of improved customer experience, get your products to market more quickly or simply resolve to be more efficient?

    With the first quarter of the year fast coming to a close, have you forgotten or are you ignoring those resolutions that you made at New Year?  You’re not alone, research shows that 63% of Britons have failed to keep a resolution and 66% of these didn’t manage to keep them - even for a month.

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    Insurtech: via technology partnership or mergers and acquisitions?


    Insurtech dominated media headlines in 2016 and became a recurring theme in research reports. This year we can expect more of the same, as digital technology continues to reshape traditional practices and attract startups and challenger brands.

    According to survey results released in January by Willis Towers Watson and Mergermarket*, insurers believe the immediate priority is to digitise their businesses as quickly as possible. Almost three-quarters (74 per cent) say they lag well behind fintech leaders and must catch up.

    Fergal O'Shea, EMEA life insurance M&A leader at Willis Towers Watson, said: "Insurers recognise the importance of building a sustainable digital infrastructure to improve customer engagement and as an essential distribution channel, which is likely to be addressed through internally driven innovation, joint ventures and M&A activity. For those that hesitate, there remains the commercial risk that they will get left behind and fail to capture future generations and younger policyholders who are more likely to engage via digital distribution.”

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