We’ve been living through periods of extreme conditions for the past few years, with global pandemics, wildfires, flooding, ice storms, and the looming possibility of international conflict becoming alarmingly frequent. While we could easily brush these years off as a statistical anomaly, data analysis presents a starkly different narrative. It suggests that we are transitioning towards accepting these extremes as our new reality.
InsurTech company Ushur recently explored how demands around customer experience are changing during extreme climate conditions.
These extreme conditions, often attributed to the unpredictable wrath of Mother Nature, are commonly referred to as “100-year events”. Yet, we’re witnessing such events with alarming frequency, months apart from each other, making this terminology misleading. The fact is, these growing extremes have already affected a significant proportion of the global population, a trend that is likely to continue. As a result, businesses and industries tasked with providing support during these times must reconfigure their strategies, ensuring they are equipped for this increasingly “abnormal” new normal.
During a recent visit to Australia, Ushur explained that conversations with customers centred around the disastrous fires that ravaged the country two years ago and the subsequent massive flooding. These disasters have imposed significant disruptions on industries we serve, such as insurance companies. They’ve been forced to rethink underwriting policies, impacting fundamental aspects of their operations. The rise in cost for underwriting policies necessitates that insurance companies discover innovative ways to minimise expenses without compromising on customer service.
This is where Ushur can provide an invaluable service, facilitating the claims process for individuals on both sides of the equation. When customers are faced with stress-inducing events such as losing a home or car, or even worse, losing a loved one, they certainly don’t need added friction in their interactions with insurance companies. The claims process needs to run smoothly and efficiently, with empathy as a core component.
For the companies catering to these customers, there’s an opportunity to deliver tremendous value while simultaneously reducing engagement costs. Ushur is committed to empowering these companies with seamless experiences they can offer their customers. Creating the right kind of digital experiences for this customer base requires significant resources, time, and energy, which is where our team, with its seven-year focus on delivering these experiences, comes in.
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