With the advent of digital technologies and heightened awareness of the digital customer, traditional channels are struggling to keep pace with the new-age digital insurer. It requires a radical shift towards providing experience platforms which distribution channels can use to build the customer base.
Can traditional channels keep pace with the new-age digital insurer? Insurance traditionally has been sold through physical channels i.e. Agents or Brokers, hence termed as ‘traditional channel’. This requires an experienced skillset, physical touchpoints with the customer, a detailed understanding of the needs assessed onsite, and complete understanding of the varied products on offer – and then bundling those paper-based offerings to present to the customer.