bet88 netPandemic pushes insurers towards digital

Amid bet88 net inexorable trend of bet88 net 4.0 technology revolution, along with efforts to overcome bet88 net limitations during bet88 net Covid-19 pandemic, Vietnam’s insurance industry has been actively participating in digitalization over bet88 net past two years to identify a suitable direction.

bet88 net Conference Board’s 2020 consumer spending trends ranking, compiled in cooperation with Nielsen, shows that insurance customers today are paying greater attention to insurance businesses that apply technology. According to a 2020 Ernst & Young survey, 84 per cent of respondents would rather work with an insurance consultant over bet88 net phone or online than in person.

The spending on premium health insurance packages remains high, ranking in the top 3 after savings bet88 net clothes shopping. This attention bet88 net spending partly helped total revenue in the non-life insurance market reach VND57.102 trillion (.49 billion) in 2020, up 8 per cent compared to 2019.

In the context of the pandemic, customer behavior has changed, with the need for health bet88 net financial protection against risks through the purchase of insurance products becoming of interest to many people.

A Vietnam Report survey showed that “Consumer demand has driven digital adoption bet88 net made 100 per cent of insurance companies put their technology development strategy in the Top 5 strategic goals of the insurance industry.”

Accordingly, about 88.2 per cent of insurance businesses participating in bet88 net survey are implementing a digital transformation program, while bet88 net remaining 11.8 per cent are planning to do so.

It can be seen that investment in technology will change the traditional mode of operation in the insurance industry by maximizing business management bet88 net risk management bet88 net promoting features to improve the customer experience bet88 net customer relationships.