How technology can benefit insurance companies
Tech Relevance Within the Insurance Market
As you may already know, buying insurance is a complex and emotionally charged process.
For that reason, it’s very easy for agents to sell an insurance policy without considering the client’s best interests.
In the US insurance market, products are more and more personal, making them difficult to sell to a broad base of consumers.
Selling insurance is more complicated than it needs to be, in an industry where every aspect of the product can be completely customized to meet the desires of the client.
For example, instead of buying term life insurance, you could buy whole life, universal life, or variable life insurance.
The process for finding a policy that meets your needs and those of your loved ones is often confusing and frustrating.
The same complexity occurs in technology. The insurance industry hasn’t kept up with the times.
Technology is changing the way people buy insurance. They’re turning to their phones and tablets to research, compare, and buy insurance—yours or someone else’s.
U.S insurance is a complicated industry that has become increasingly more confusing due to the personalization of products.
As clients demand more options, companies are trying to sell them a wide range of insurance policies—but few can keep them straight.
This makes it difficult for you to find the right policy for your needs or gain clarity about what you’re buying.
There are hundreds of insurance companies and thousands of products to choose from.
If you buy an insurance policy, you will have dozens of options for each area of coverage: home, lifestyle, property, auto, health, etc.
And then there are the different combinations of coverages depending on your personal needs.
Getting insurance shouldn’t be complicated because if it is, the only things that remain are hassle and confusion. We help make sure that your clients have the right protection without breaking a sweat.
Switch for Insurance
When you are trying to make your way through the vast jungle of IT, it is hard to know which path to choose.
Should you outsource your IT needs?
Do you need experts in place who can take care of everything, or will remote employees (who often come at a lower rate) be all you need?
“Switch for Insurance” brings together technology and expertise in a perfect match.
Technology may be the solution to this problem:
Algorithms can aid with accurate insurance prediction tools that can decrease human error, and the possibility of mis-selling policies.
Technology has become an essential part of our daily lives, but we haven’t all had the same experiences with it.
Why do I need a tech partner?
Most insurance companies are stuck in the past.
Sure, they might have a website and probably even some sort of mobile app — and some are experimenting with social media and marketing automation technology.
However, if you scratch the surface they often still operate with archaic technology that can’t accommodate their needs, let along serve their consumers.
With a background as developers and IT security experts, our team is well positioned to help your company make sure that your systems stay up-to-date with changing technologies.
Switch is a nearshore software service company that helps you design, deliver and create custom insurance products, backed by solid technology and backed by experts who share your vision.
You are the backbone of the insurance industry. It’s up to you, an innovative spirit and an open mind, to make a difference. Let’s rewrite history together!
Feelings about technology range from enthusiastic optimism to deeply suspicious fear.
If you feel this way, you may have questions about how technology could work for your company.
Following the recent growth of IT outsourcing, companies are now starting to hire people in overseas locations with the aim of getting the services they need at a lower cost.
Many business owners have balked at the idea of hiring an outside technology firm to handle a part of their digital solutions.
Outsourcing service is one way of reducing costs while simultaneously reaching greater qualities.
As Amazon has shown, even complicated work can be accomplished through remote employees.
As an insurance provider, you want your customers to be loyal to you.
After all, loyalty results in repeat business and satisfied customers.
It’s important then, from a business perspective, that you provide these customers with a positive experience that helps engender trust in your brand.
We want to provide you with the same perspective.
Contact us for a quick call to find out how we can help you to deliver simplified insurance experiences.