Sustainability factors of insurance sales

Abstract

Availability of new data sources through technology development is increasingly affecting the business of insurance companies. Digitized information is used to improve the value of insurance process. Fast progress in technology and the internet provides great opportunities for insurance companies. New distribution channels are created that change the delivery mode of the service. Price comparison sites provide consumers with more product and cost information. Modern consumers rely more on their insurance decisions and want to integrate through different channels while exploring and purchasing insurance. At the heart of any industry disturbance - including insurance - the key fact is the rise and upgrading of the next generation of digital technologies. As people are replaced with software and technology, technological change leads to changes in the needs of new staffing solutions. Existing skill sets are no longer needed, and insurers face the challenges of restructuring their workforce. Many insurers see attracting true 'digital' talents to their work environments as a strategic move because they will use them just to build up modern platforms that will increase their competitive advantage.

Keywords

• insurance
• sales
• factors
• innovations
• technology
• challanges
• market