It’s no secret that insurance companies globally are beginning to take digital technology, or more specifically insurtech, more seriously as a way of launching the industry into the digital future. Despite being ever so slightly behind the curve, insurance firms large and small are toying with technology like software bots, artificial intelligence and IoT to create more competitive products, increase customer loyalty, and push their expenses down.
Over the past year we’ve seen IoT reach its tentacles into different areas of our lives, from controling our gas and electricity to driving our vehicles. Despite the enormous consumer market success it has had so far and will have going forward, the real opportunities for IoT lie in its business applications, whose investment over the next two years is set to grow more than $600 billion according to recent PwC research.
The modern business workforce is increasingly technologically aware and capable. Thanks to the high accessibility of smart and connected devices, many employees couldn’t imagine life without digital technology, both in the office and beyond.
Since their introduction almost 40 years ago, spreadsheets have played a vital role in allowing businesses to keep track of sales data and customer contact details.
But despite spreadsheet packages like Excel and OpenOffice being still widely used, the advent of online systems and the digitization of business processes have offered new opportunities for sales teams to work smarter and more efficiently.
What is Digital Transformation and how can I apply it to my marketing activities? The truth is, Digital Transformation isn’t a “thing” you can plug in to your current marketing plan, nor a tool you can download. Rather, it’s a way of thinking, a way of communicating and a way of delivering value to customers.
Digital technologies provide scalable support for business activities across the business landscape and are powering Digital Transformation. These are typically activities around Sales & Marketing, Customer Relationship Management (CRM), Product & Service Development and Operations.