Jan 1, 2019

3 Technology Trends Transforming the Insurance Industry

Within 10 years, approximately 50% of all insurance customers will be millennials, and they expect their carriers to offer digital platforms to manage the insurance process. Many agents and carriers have anticipated this expectation and have already added digital technology to their customer interfaces. The 3 biggest technology trends that are transforming the insurance industry are:

Live Quotes

Technology allows people to go on many insurance websites or apps and get a quote within minutes of completing a basic form, though sometimes more information may be requested. The more complete and accurate the information you provide, the more options you will receive and the pricing will reflect your actual needs. At Alliance, we are proud to offer live quotes for home, auto, flood, life, and health insurance coverage. Because we represent multiple carriers, we give our customers the best selection in policies and pricing. Our vast network of providers can save you time and money.

Online Claim Filing

Part of dealing with the aftermath of a car accident or damage to the home is filing a claim with your insurance company. Many insurance carriers are taking some of the pain out of claim filing by offering online support. Online claim filing tools allow customers to:

  • Manage their claims
  • Track the claim as it goes through the system
  • Provide additional information
  • Get repair approvals
  • Receive an electronic settlement payment

Each insurance company offers different levels of online claim services but they generally decrease the time from filing to payment as compared to the traditional filing process.

Insurance Apps

Insurance company apps are becoming more common and the best ones do more than just accept payments. Many of today’s insurance apps allow you to:

  • Catalog your belongings either in a document or through stored photographs
  • Manage your account
  • Request a quote
  • Speak to an agent through the app
  • Request roadside assistance
  • Upload documents, videos and other things you want to keep safe
  • Receive car maintenance reminders

Some apps are designed for general insurance management while others can help you prepare for and manage a move, plan a route for a road trip, or other specific activities. Apps are one of the best tools to meet your insurance needs because your information, and your insurance company, are available wherever you are.

When selecting an insurance company, make sure that the carrier you select offers the best digital support, as well as coverage and pricing. This level of customer service is quickly becoming the industry standard and you deserve the best.

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