Key challenges of Modern Insurance that QA can beat (1)

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Key challenges of Modern Insurance
that QA can beat
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Key challenges of Modern
Insurance that QA can beat
With changing lifestyle choices, climatic
changes, and overall technological inventions,
the present-day risk scenario has also
transformed. Insurance companies are coming up
with wacky insurance proposals such as Alien
Abduction insurance, body part insurance, Taste
Buds insurance, Valentine insurance, Bail bond
insurance, Wedding insurance, and Kidnapping
insurance too. Some of them can sound crazy, but
creativity is needed to keep the business going.
However, creativity and compelling advertisements
have to translate into simplified propositions
that the user can trust and accept. Back-end
support for the sector is critical, which can be
achieved by developing easy-to-use applications
that are not just simple, but responsive too.
Selling a policy is important for the business,
but engaging the customer and upselling new
products is a foresight that will bring business
value. Its not just enough to get celebrities
and sportspersons to sing for your brand, but
converting the claims into real world robust
applications is critical. Peculiarities and
Challenges of the Insurance sector Insurance
providers are introducing various features and
facilities over an application, namely, online
premium calculators, application for loan,
submission of documents, refinancing mortgage,
saving plans, and much more. It is important that
the information shared over these platforms is
accurate and stays secure. Moreover, there are
definite chances that the user accesses this
information across multiple platforms. This
implies that wherever the insurance application
is accessed, the experience has to be
unanimous.
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Key challenges of Modern Insurance that QA can
beat
Insurers across various markets are facing
multiple challenges in understanding the changing
preferences of customers and what should be their
new agenda for the market. Technology has
definitely been an enabler for the industry, but
ensuring its performance and accessibility is
becoming highly critical. One of the key hiccups
is adaption to legacy IT system and enabling
business transformation. Digitization of
business is necessary to bring in more
predictability and responsiveness for seamless
customer interface. There are multiple factors
that are positively impacting the insurance
industry, however, its important that insurers
creatively adopt the change. Technologies such as
Internet of Things, Big Data, Social Media,
Mobility services, Cloud, and Analytics are
needed to ensure better customer experience.
Nonetheless, its success depends on its effective
adoption. For instance, a Mobile first strategy
can work for a brand only when the application is
strong enough to handle sensitive and humongous
customer data. There has to be a good back-up for
the acquired data that will help customers to
trust the company and buy an insurance.
Additionally, adherence to rules and regulations
is important, which implies that under no
circumstances the protocols can be
compromised. Internet of Things can help
insurers to interact and connect in a better way
with customers, but it is critical to ensure the
safety and accessibility of the endpoints. It
will help the insurers to confidently propose new
features and innovative products to their
customers. Moreover, the industry players can
leverage technologies such as Big Data and
Analytics to make their business predictions much
stronger.
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Key challenges of Modern Insurance that QA can
beat

Going Digital with QA and Testing
support Effective blend and adoption of digital
technologies can help organizations to not only
ensure customer experience, but also garner
higher RoI. The current era demands IT excellence
and a holistic transformation of IT landscape,
which is possible with QA transformation. Digital
Assurance and Testing ensure quality and help
insurers to adopt the new technologies as per the
requirements of their business objectives. Insura
nce industry is a highly data-intensive segment,
where massive data is stored over the years. This
data comes from multiple sources and even a minor
glitch can endanger its accessibility and
security. A QA strategy can not only help in
ensuring the security of data, but also drive
user acceptance and adoption of new
technology. Read Full Blog at
https//www.cigniti.com/blog/key-challenges-moder
n-insurance-that-qa-can-beat/
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