Insurance product of tomorrow - guest contribution at Bitkom
"difficult to understand" and "unsexy" - this is how insurance products are generally labelled. But these phrases need not apply to the future, because digitalisation has a cross-industry impact and has long since arrived in the insurance world. Customers have become accustomed to the simplicity, transparency and user-friendliness of digital processes.
Even though the insurance industry is a highly regulated sector, successful concepts from other industries cannot be transferred 1:1 and changing customer behavior requires adaptation, the digital revolution is making itself felt strongly.
In order to do justice to this, products that were successful in the analogue world must be adapted. Stephan (Haumer) explains in his guest article at Bitkom with other industry experts how insurance products on the German private market could develop and look like in the next 5 - 10 years.