Mobile Insurance:

Are you well positioned for this emerging channel?

Mobile offers multiple opportunities for insurers. It allows them to interact with and service existing and new customers through an additional channel, design new product offerings, and manage internal operations more efficiently. Many insurers have started tapping the possibilities offered by this channel. For instance, 1st Guard Corp., a truck insurance firm, leveraged the mobile channel to reach its ever-mobile trucker customers. It launched an app, called Trucker1, which enabled independent truckers to sign up for products while on the road, reducing cycle time by 10%-20%. Indian insurance firm ICICI Lombard has used the mobile channel to increase productivity of its surveyors by 30-40%. The firm’s surveyors have been given iPads which allow them to pull up case details, take pictures, tag these to various categories, and complete the process remotely, enabling the firm to manage claims more efficiently.