In the past year, the average car insurance premium has gone up by 11%, as shown by the recent findings from the Association of British Insurers (ABI).
This fast year-on-year rise has led consumers to question whether they are getting value for money from their policies.Fujitsu’s own New Pace of Change report found 74%of UK consumers regard price as the most important factor in choosing which insurance package to buy, rather than features and online or mobile capabilities. The fact that the insurance industry has in the past suffered a reputation of being untrustworthy and poor at customer service adds pressure to bring new value to the industry. However, technologies such as artificial intelligence and automation are transforming the face of insurance as we know it. Using digital to stay competitive Firstly, technologies such as AI and automation could enable insurers to offer a more tailored product and smarter targeting when... Read more