Year 2020 - CAPITALIZING ON PROFESSIONALS AND INSURTECH TO REACH GREATER HEIGHTS 善用專才與科技 保險中介創高峰

26 2019 年刊與 2020 展望 YEARBOOK 2019 & PROSPECT 2020 Digital enablement of insurance intermediaries In response to the digital age Insurance industry at every level is facing tremendous pressure on all fronts. Customer behaviour is changing. New distribution and business models are emerging. Driven by digital transformation, our business landscape keeps shifting literally every day. And the latest coronavirus has posed a completely brand new challenge to the industry. As such, market players worldwide are trying to embrace and adapt to the new business approaches which the new technology can offer. Many realize that if they do not keep up with technology, their competitors will and can use it to their advantage to get ahead. Meanwhile, they understand the need to go digitized so as to capture more greenfield opportunities, generate new revenues, streamline processes, stay agile, cut costs and make customers happier. Leveraging technology to your advantage Agencies and brokers now see the value in providing digital experience and find themselves implementing solutions previously thought to be too complicated. Here technology has proved to be a real game changer. With the aid of digital tools, intermediaries can now move away from mundane processes to focussing on customer’s needs, doing proper cross-selling and up- selling and making proactive engagement with ecosystem partners. Never before can they be so better equipped to manage the entire sales cycle with practically a few touches on the screen anywhere anytime. In addition, digital transformation brings enormous benefits to end-customers as millennials and other older age groups who have become accustomed to the use of technology in their daily life. The whole insurance process can be more user- friendly and efficient in generating leads, processing policy forms and communicating instantly on digital platforms. Customers are thus happier and feel more empowered. Out of legacy and into the new age Obsolete and legacy systems are being slowly phased out by insurance agencies and brokers - replaced by agile and more robust systems with modern architecture. Highly modular and configurable, these new systems are also easy to use and master. Intermediaries can now manage their daily activities and all aspects of the customer journey digitally, thus giving them more time to expand their business network and reach out to potential customers. 專題探討 FEATURE