OLDWICK, N.J.--(BUSINESS WIRE)--In this A.M.BestTV episode, Jason Hopper, associate director, research and criteria, A.M. Best, said insurers are staking their future on better use of technology and data, with mixed early results. Click on http://www.ambest.com/v.asp?v=techcurve318 to view the entire program.
Hopper highlighted the gap between what insurers are providing in the way of technology and what consumers expect.
“A.M. Best believes there is a gap to an extent, because consumers want quick access to insurers, whether it is through web, mobile or text,” said Hopper. “Ultimately, all technological advancements boil down to some sort of customer engagement and satisfaction, whether it is through underwriting systems, administrative and claims management, data and mining capabilities or predictive analytics. All those things will contribute to the enhancement of the customer and insurer experience and engagement.”
Hopper also highlighted how the need for more technology can lead to more opportunities for cyberattacks.
“Obviously, data quality and housing are things that are extremely important to insurers. Safeguarding data is imperative. If consumers trust your organization and your ability to maintain and keep private your data this will ultimately reflect better on your brand awareness, which would ultimately improve your customer retention and satisfaction.”
To access a copy of this special report, titled, “Insurers – Behind the Technology Curve, and They Know It,” please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=270804.
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