How the insurance industry is rapidly moving digital in light of Covid-19

Published On: April 22, 2020

How the insurance industry is rapidly moving digital in light of Covid-19

The Insurance Industry’s digitisation and relationship with technology has been accelerated years in a matter of weeks

The past few weeks has rapidly accelerated the digitalisation of nearly all businesses around the world and insurance is no different.

Insurers, brokers and their clients are working mostly remotely wherever possible, and features like Zoom Video conferencing and Google Teams are commonplace in many people’s workday.

As the lockdown continues, everyday life, such as insurance claims are still going on, and it’s fallen to technology to pick up where human interactions left off.

We’ve seen a notable increase in new sign-ups since the beginning of April. One loss adjuster has gone live with a white label property claims reporting app to assist with property claims during these challenging times and while others have been live on Claims Made Easy just hours after pulling the trigger.

Across a period of two days we saw a new download of one of our apps every 2 minutes, demonstrating that our existing client base were readily utilizing their technology to deal with the situation at hand.

Multiple factors have driven this increase in usage, which we know to be:

  • The need to get claims data remotely from the side of the road, to multiple parties at the same time.
  • There is some reluctance for loss adjusters to visit the site of a loss. Our claims apps let the claimant capture the information needed to initiate the claim.
  • As brokers are digitising other parts of their business, their claims processes are part of this upgrade.
  • Brokers wish to show themselves as being proactive towards their clients’ changing needs during these challenging times.

Technology doesn’t offer a complete solution for the issues we’re facing as an industry today, but it can offer ways to bridge the gap around human interaction.

Whether it be a virtual coffee break, Friday afternoon beer with the team on Zoom, or a claims app to get claims data to all concerned parties quickly, technology like that of Insure Apps is here to help you and your clients.

Get in touch to arrange a web demo and find out more.