What Lies Beyond Digital for Insurance Operations?

Bionic insurance operations like “live tracking,” “proactive and preemptive services,” and “dynamic mass personalization” will lead to better customer experiences.

Customer satisfaction tends to be low in the insurance industry. Traditional insurance companies typically get a net promoter score (NPS) of between zero and 20. Digital and insurtech companies usually garner higher scores, somewhere between 30 and 50. Want an NPS above 50? That’s the promise of the bionic insurance company. The bionic company will benefit the customer by providing excellent service while removing steps from the customer journey, thereby reducing demands on the client.

Live tracking lets insurance companies stay in touch with the customer via digital notifications so customers know what will happen next regarding their cases. Proactive services might notify customers when a wildfire...