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In the current times, the insurance business is trying to move towards the generation of experiences similar to those that its customers already enjoy at other times in their life and in other consumer products. For the insurance business, this is a complex transition, when traditionally the service provided by them has few points of contact overtime on the customer journey (payment notice, renewal notice, accident notification or some loyalty campaign). They are unattractive, let’s not fool ourselves.

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Insurance Pricing

Insurance pricing: a key advantage

by msg life / 24. January 2020

The democratization of access to information and new technologies, the emergence of new risks (such as cyber-attacks or drones, among others) and the increasing demands of consumers are new and significant challenges that the insurance sector has to face in order to remain competitive.

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A dynamic insurance market, growing tech-savvy customers and emerging technological disruptions have been driving insurers to reshape their strategies to stay ahead of the competition. Customers expect insurers to anticipate their needs and to provide personalized offers through a variety of digital channels. It has become vital for insurers in general, and underwriters in particular, to adapt their workflow to these changes.

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