E-BUSINESS AND DIGITAL MARKETING AN IMPACT ON INSURANCE SECTOR

Digital marketing and e-business in insurance industry has rewritten the rules of the game when it comes to communication with clients. It’s created a marketplace where marketing, technology and customer service are united. Insurance companies are already progressing in using digital channels for a better customer experience, by providing their services via mobile apps, social networks and websites. Now that the mobile phones, tablets and other handheld devices have become ubiquitous, individuals use them to shop for prices, search products, and buy insurance from anywhere at any time.   But, users are not just averse to a frictionless, quick process from their insurance company as they might have from their favorite apps, Google or internet store. Digital revolution has changed the business paradigm, and more so as web aggregators are introduced into the distribution chain. The effects of web aggregators have been ambivalent, but they have been useful for consumers shopping for insurance quotes and finding information. Furthermore, more customers are now reaching out to the insurer via mobile apps, chatbots, and company websites to make service calls or claim inquiries.   E-business and digitization changed the value-added service providers of insurance industry. These changes transformed how insurance policies are promoted, customer service is conducted and after-sales care is offered. Answers on time and timely claim resolution are the new priorities of insurance companies in today’s market. As insurance industry becomes more digitalized, insurers need to focus on applying these tools in order to gain customer loyalty and stay ahead of the curve.

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