If we talk about trends in insurance services, these are P2P-insurance, on-demand insurance, telemedicine and telematics, aggregators and marketplaces. Basically, insuretech is working on optimization of insurance payments, development of neural networks to communicate with clients automatically, by block chain.
The Russian insurance market lags far behind these trends, says Valery Kurganov, Advisor to the General Director on Legal Issues of Insurance Company "Prominstrakh" (RF). According to the Central Bank of Russia, the volume of insurance premiums under contracts made through the Internet amounted to 1.2 percent of the total premiums in the first quarter of 2017, although, e-sales already reach a level of 20-30%in many technology companies.
According to the expert, it is not only online purchase of an insurance policy convenient for a consumer, but also the settlement of payments in case of an insured event. New products have arrived: “smart” full comprehensive insurance, property insurance with telematics (smart house), VMI program with telemedicine, the possibility of online consultation with various doctors. Solutions based on the block chain will allow insurers to verify the personal data of the policyholder both when filling out policies, and when working on insurance cases, that is, they will work to reduce the loss from fraud.
The process of interaction with customers can almost completely pass to the digital environment, Mr. Kurganov believes. The client does not need to visit the company's office, take papers, and confirm the insurance case with various certificates, all of this is given to the insurer. Only technology is needed for that. This implies an online document flow between many companies, including budget organizations. The amount of damage will also be calculated automatically, for a large number of different factors.
The solutions for payment scoring already exist in the world. For example, the CynoClaim service; its developer promises to save the expenses up to 50%, grow the customer satisfaction level by 40%. And you can also turn on and off insurance products, depending on the need, the so-called on-demand insurance. Leave home, click the button in your smartphone application, and your house is insured from theft.
Photos per websites: insurancebusinessmag.com. www.fluxtrends.com/insurtech/