• Damien Gallagher, Online Content Specialist at Top Quote


• 08.07.2016 07:45 am
undisclosed

Doing business through digital means is something that comes naturally to many people now. Indeed, it is becomingly increasingly difficult to envisage how we got by for so long before online banking, shopping and booking ever became possible. We live in an age where customers seem to want the flexibility to do business whenever and wherever they want, rather than being constrained by the need to be in a certain place at a certain time.

The insurance industry, however, has been abysmally slow to fully embrace the concept of digital. Almost 80% of insurers admit that they are still learning about digital, while more than half do not facilitate digital within their operating models. In this tech-driven age, that seems utterly baffling. How and why are insurers not grabbing this cross-selling opportunity with both hands? Not only are they failing to take advantage of a potentially lucrative platform, they also run the risk of reputational damage from customers who won’t be pleased with the unavailability of doing business online. That could lead to them taking their custom elsewhere and, through word of mouth marketing, lead to other people doing the same.

It's high time that the insurance industry opens its eyes to the enormous possibilities of digital. With such slow uptake, an insurer who pounces on going digital stands to gain a significant advantage over the competition. Top Quote created this infographic that suggests how insurance companies can make digital work for them.