Mobile Applications in Life Insurance and Pensions-Capgemini

Article Synopsis :

The rapid adoption of mobiles and smart phones by customers poses a challenge for insurers to provide a consistent, integrated omni-channel customer experience. To ensure business viability, profitability, and a competitive edge, insurers must reinvent their business models and include mobility to meet the evolving needs of digital customers.

The  development of mobile applications is gaining popularity with Life Insurers 

In the research report “Mobile Applications in Life Insurance and Pensions” Capgemini provide an overview of the factors affecting the development of mobile applications in life insurance and identify the primary areas insurers should invest in as they begin to develop mobile applications. The report highlights that life insurers are increasingly employing mobility as a part of their business strategy and the key drivers for drift towards mobile applications are:

• Mobile Anywhere
• Mobile Technology
• Mobile Commerce
• Mobile Competitive Advantage
• Mobile Branding
• Mobile Culture

The report also states that  the rate of mobile application adoption is slower than related technological advancements in the case of life insurance and identifies following potential areas of innovation:

• Need Analysis and Prediction
• Customer Self Service
• Agent Enablement
• Social Media
• Portfolio Dashboards
• CRM & Customer View apps

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