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How New Technology Is Disrupting the Insurance Industry
According to our own research, 60% of insurance executives globally agree that traditional ways of business are being disrupted. From enhancing customer experience to optimizing operations, technology in insurance is becoming a crucial driver of resilience and innovation.
We sat down with Vipul Narula, Digital Head, BFSI at Concentrix, to better understand the industry shifts taking place. In the interview, Narula highlights three core technologies that are powering change in the insurance industry:
- Loyalty and Engagement Tools: These include advanced user experience platforms and mobile apps that keep customers connected and engaged.
- Data and AI: From customer analytics to pricing predictions, AI is transforming decision-making and personalization across the value chain.
- Mobile and Omnichannel Solutions: Leveraging features like geolocation and augmented reality, these tools make insurance products more accessible and user-friendly.
The integration of these technologies is transforming how insurers operate. Customer interactions are shifting to seamless API marketplaces, where showcasing and differentiating products in seconds is essential. Meanwhile, data-driven insights are enabling hyper-personalized customer journeys, from efficient claim processing to targeted engagement.
To thrive in a competitive and volatile landscape, insurance companies need more than cutting-edge tools. They must adopt a visionary approach—focusing on visibility, speed, and delivering value. By aligning with technology, streamlining operations, and forging strong partnerships, organizations can remain agile and customer-centric in an era of disruption.
Want to future-proof your insurance processes?
Watch the full conversation with Vipul Narula and discover how to position technology at the heart of innovation and resilience in your business.
Interested in seeing the data behind drivers of digital transformation in the insurance industry? Download our full research report with insights from over 200 insurance executives from across the globe.