Next Generation Digital Solutions and Technology Services company…
Crux Digital is focused on serving Property and Casualty Insurers through its high-impact, business-technology Transformation, advisory and implementation services.
The future trends of the insurance industry
Insurance Industry is witnessing a multi dimensional transformation, be it the disruptive technologies, the evolving customer expectations, the emerging risks or the newer business models. Each of these individually and all of them collectively have a phenomenal impact on how Insurers do their business and engage their customers.
Trends impacting US P&C Insurance Market
Advanced analytics, Connected products (IoT), Artificial intelligence, Drones, Autonomous vehicles, Blockchain
Changing Customer Expectations
Personalization of products / services, Frequent engagement / touchpoints, Omni-channel experience
Cyber risks, Climate change exposures, Product liability risks (arising out of IoT, 3D printing…)
Insurtechs Tech giants (particularly distribution), Adjacent industry players, Insurers are now exploring several partnerships & acquisitions...
Aging and retiring insurance professionals, Increase in talent demand but dearth of talent supply, Need to attract niche talent
Newer Business Models
Digital distribution, Insurance marketplace, On-demand , Bundled coverages. Usage-based / Pay-per-use, Shared economy...