As we head in to 2021, Ebix have decided to take a look at what we think are going to be the top 5 trends for the insurance industry in 2021.
Continue readingEbix Insurance Trends for 2021
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Insurers at the battlefront in the war against climate change
Hurricane Irma killed 134 people in 2017; Miami Florida USA. Source: Shutterstock
Insurance giant Chubb announced earlier last month that they will be the first US insurer to begin divesting from coal. It follows a string of European insurers who have been leading the way in making more ethical investments. Australian insurance companies are following suit; QBE, Suncorp, and IAG are all phasing out their business with the coal industry. And Japanese insurers are starting to head in the same direction; three large Japanese life insurers recently announced they would no longer be funding new coal projects. Continue reading
Customers and Data are Driving Disruption in Travel Insurance
The typical process customers will experience when making a travel insurance claim from a traditional insurance provider is made up of 13 or more steps over a period of 45 days, and likely long after they have returned from their trip. It is no wonder that travellers are increasingly looking to insurtech startups to provide better travel insurance experiences and products. Making use of a blend of customer-side synergies and big data, the Insurtechs listed below are turning the $1bn Australian travel insurance industry on its head. Continue reading
What is a CRM and why are they so popular?
What is a CRM?
CRM stands for Customer Relationship Management. Customer Relationship Management is a marketing and sales strategy devised and applied by a business with the intention of developing loyal clients, resulting in business growth. Each company’s CRM strategy is specific to the business, however they all have one thing in common: client focus. Continue reading
Insurance Trends to Look out for in 2018
The rise of insurtech startups are continuing to transform the insurance industry as we know it. From lightning speed claims to having a greater purpose, thanks to technology developments and advanced economics insurance is joining the growing industries being disrupted. While insurance does come with its challenges, a handful of insurtechs are proving to be successful. In this post we cover the insurance trends that show promise to make a big impact on the centuries old industry in 2018 and beyond.
5 ways to retain clients and increase sales using tech
There are several reasons your existing clients are your business’ most valuable asset.
- Increased profits from sales
- Increased profits from reduced operating costs
- Increased profits from referrals
Not only is it 3-5 times cheaper to keep a client than to engage a new one, but studies show that repeat customers pay more for purchases and purchase more often. Satisfied clients also help your business to grow through referrals to friends and family. Continue reading
Is the Sky the Limit when it comes to ‘the cloud’?
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It seems more objects than not are connected to the internet in some way or another. Whether it’s traditional technology such as computers, laptops, tablets and smartphones, or the less expected items such as household appliances, toys, cars, and drones; with an internet connection comes the opportunity to save information to what is commonly referred to as ‘the cloud’. But with so many internet-connected-things, surely the cloud is going to run out of space at some point, right? Continue reading
How to Make a CRM Work for You
Common CRM Implementation Failures to Avoid
The uptake of CRM software is growing at a steady rate of approximately 13% each year over the last few years according to reports from Gartner (2014; 2015). And with good reason – CRM software enables companies to grow loyal relationships with their clients by allowing a better understanding, segmentation and tiering of their client base, improved targeting of promotions and cross selling, and the implementation of alerts that signal a client is about to depart. CRMs are a complex software that can deliver what many refer to as a ‘360 degree view’ of their clients. Continue reading
How Not to do Digital in a Business Environment
For this month’s post we have taken a slightly different perspective. After an underwhelming firsthand experience with an insurance company that appeared to have missed the bigger picture, we decided that this edition we’d look at how not to implement digital technology. Continue reading
Top Technology Trends for 2017
2017 looks set to be another big year in technology. However rather than any big new inventions taking centre stage, this year will focus on improving existing technology such as machine learning, mobility, virtual reality, IOT and automated finance. Don’t let this fool you, 2017 will most definitely be an exciting and life-changing year for technology. Some of the more farfetched tech products will be given the chance to refine their concept and become more functional, increasing their adoption in everyday use. Continue reading
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