News from Insurance Journal:

Technology is changing the way insurers and consumers interact and giving insurers access to considerable data so they can better understand their customers, says Swiss Re in its latest sigma study.

The study concludes that technology will not replace all agents and brokers but that they and carriers need to adjust to consumers’ preferences.

The study, “Digital distribution in insurance: a quiet revolution,” is an analysis of research from different countries and discusses how the internet and mobile devices are empowering consumers to search, review and purchase insurance policies without relying solely on the services of intermediaries.

At the same time, developments in Big Data are facilitating access to a rich source of data about customers, which insurers can use to enhance sales and marketing strategies. Digital transformation overall can help insurers become more consumer-cen……….. continues on Insurance Journal.

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