Companies, Insurance sector

Succeeding Post Pandemic by Heath Ritenour

The COVID-19 pandemic brought with it a lot of challenges in various industries. Most businesses were forced to either change how they normally do things or close shop. However, now that things are slowly gaining some small level of normalcy, people are expected to witness some major changes in how business conduct their operations. According to the CEO of IOA, Heath Ritenour, the insurance sector did not go unscathed, and consumers are set to witness a few changes within the industry going forward. Here are some of his views on these changes.

Improved customer service– In the coming months, more and more customers are set to base their choice of an insurance provider on the level of customer service being offered.

Remote working– the pandemic saw a rise in the number of employees working from home, especially in the insurance industry. This trend is set to stay for a long time to come since most firms have found out that their employees tend to be more productive while working from remote locations. Customers in the coming months are set to communicate with their agents through virtual meetings, emails, and calls with more flexible hours.

Use of insurance technology– the pandemic saw most insurance companies adopt new technology that was, until recently, ignored. With these technologies, insurance providers have made it easy for their clients to buy new policies and for them to sell. According to Heath Ritenour, these tech is set to give potential clients all the information they need to make an informed decision.

New Insurance products– the pandemic also exposed the need for customized insurance covers. Heath Ritenour sees this as an opportunity for insurance providers to come up with new products and services that are able to meet the current needs of today’s generation. One of the most recent addition is the use of telematics that generates the premium to be paid based on the client’s driving habits.

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