The impact of the digital transformation in insurance encompasses not just risk assessment by way of predictive analytics, but also interaction and engagement through digital channels, and use of customer data for developing customized offerings for customers. Predictive analytics-which could be applied, for instance, to identify what the most effective marketing campaigns, strategies, and messaging are to a particular customer or target market.
Virtual consultations-which already have become widely employed since the pandemic-online client meetings offer prospects, clients, and agents with time-saving convenience and flexibility-and can serve as an effective vehicle for agent training, too.