Talent has been a front and center topic in boardrooms across the U.S. amid the pandemic, widespread resignations, a labor shortage, and other trends challenging the recruitment and retention of employees. Yet, companies across the insurance ecosystem have adapted remarkably well, including the vendors that serve the industry.
ReSource Pro Consulting’s recent research report revealed that although there is a strong effort by insurers to provide true digital payment experiences, many continue to operate with outdated processes that don’t meet the needs of today’s consumers.
The pandemic only elevated the need for companies to provide digital experiences to customers and employees, such as real-time payments, virtual claims submissions, and more. And recent research suggests that this need is influencing how insurers and MGAs are purchasing core systems.
As the insurance industry enters a post-pandemic, digital-first era, property and casualty carriers that fail to adopt an effective digital engagement program, especially one that integrates proactive communication, risk falling behind.
Today, customer expectations have overwhelmingly shifted to digital. The number of people who want all communications via paper or voice is rapidly dwindling, as the majority of the population uses messaging platforms and social media every day and are adept at all manner of mobile and online interactions.