In the context of a complex and uncertain world, the increase in risk awareness among individuals and businesses creates a great demand for insurance products to protect against unexpected threats, such as accidents, diseases, property damages, and unnecessary loss. Symbolizing stability and safety, the insurance industry is compared to a “protective wall” that helps to keep and safeguard individuals, organizations, and enterprises from risks and damages. For example, the insurance industry will protect assets, manage risks and provide financial support to businesses when faced with risks, fostering a stable and reliable environment for business development.
Although 2023 faces many dificulties due to the impact of the Russia-Ukraine conflicts and the global economic slowdown, the global insurance market may achieve a compound annual growth rate of 8.7% by 2026. The Vietnamese insurance industry is anticipated to experience strong growth as a result of the Government’s adaptable policies to encourage domestic growth and attract foreign investment. These growth potentials not only come from the increased demand but also from the opportunities that digital transformation has opened up for the insurance industry. Insurers can leverage technology to deliver online services, customize products , improve customer experiences, and optimize business processes. More specifically, insurance companies can develop mobile applications and online platforms for customers to access insurance services from anywhere and at any time. The use of modern technology also enables insurers to tailor their offerings to each client’s unique demands in accordance with the insurance scale, level, and terms, as well as to improve the user experience, automated communication, and customer service.
In the report “Accelerate digital transformation in the insurance industry”, FPT Digital also highlights models, and methods, and recommends some solutions to insurance companies in enhancing customer experience. Details are analyzed according to the following contents.
FPT Digital’s Report on Insurance Industry 2023: Accelerate digital transformation, enhance customer experience, including:
- Insurance industry in the world and in Vietnam
- Driving factors and digital transformation trends in insurance industry
- Enhancing customer experience in insurance industry