The pandemic isn’t hampering the insurance industry from effectively moving forward. But for some carriers, historic anxiety that prevents experimentation with new technologies is an obstacle to growth in a period of constant economic change.
In my decades in insurance and technology, I have continued to see creativity and resilience during times of major transition in our nation. One of the most consistent areas of focus in times of transition is on how relationships between businesses and their customers are impacted. Twenty years ago, there were fewer data points, technologies, and points of interactions between customers and their insurers. While there are assets from the last few decades that can help our industry deliver increased value to the insured, in the coming years, legacy technology and antiquated perspectives about managing customer relationships are not part of them.