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A Superior Experience: Digital Insurance Premium Refunds & Agent Commission Payments
To account for a reduction in driving during the pandemic, auto insurers gave back more than $18 billion in premiums,...
Insurance payments are going digital. Many insurers already accept inbound premium payments from policyholders. Now outbound claims payments are also catching on. These changes will bring benefits to both insurance companies and insurance customers. However, before these benefits can be realized, there are six challenges that must be overcome.
Today’s consumer demands digital, and insurance is answering the call. For most insurers, the question of the day is no longer “Should we,” but rather, “How do we get started making the shift to digital?”
Generational shifts have forced insurers to rethink the traditional one-size-fits-all approach to insurance. Here is a brief overview of the consumer attributes associated with each generation of policyholders, along with their respective age ranges, as defined by Pew Research in 2019.