July 17th 2023
Our world is changing but is your company adapting?
It is no secret that the primary change impacting businesses in the Digital Age is the use of technology in all aspects of our professional lives. But during the hustle and bustle of adopting innovation, there’s also the human element to consider. Have you thought about the human element working in conjunction with technology to amplify your consumer impact?
Let’s explore how technology is shaping the insurance sector and how you can leverage it alongside your employees to capitalize on the best of both.
The insurance industry is embracing new technology more rapidly since the global pandemic. Automated tasks now include claims management and underwriting. But customers crave the human element to work alongside this evolving technology.
Have you ever asked yourself, “man I wish someone would create this?” Well, that very question allows the continued development of the technology responsible for sector changing impacts. Without innovative thinking, the technologies impacting our sector would have never been developed. The creator saw a need in a deep market and formed the technology to meet those needs. But it all started with seeing the need not the technology. Having innovative thinkers who offer valuable problem-solving resources on your team is going to be critical to keep up with the changes that are quickly shaping our sector.
We all have those days where all we want to do is throw our phone across the room because it’s not as smart as we thought it was. This should be a reminder that we still need humans to come to the recuse of the smart technology designed to make our lives easier. If we have learnt anything from the past, it is that technology will inevitably experience failures, at which point we will have to interfere to assist our technological counterparts. Because of this, it is critical to have the right team in place to quickly get our friends back on course.
Technology has witnessed an impressive evolution the past few decades, which has in turn transformed our lived and helped us evolve with it. However, the numerous benefits of technology can only be taken advantage of when the technology is used correctly. It can be easy to get excited about using drones, spectral analysis, digital learning, and a litany of other tools designed to make insurance inspections easier and cheaper. Before they can help, though, the inspectors applying the technology need to have a deep understanding of how to use the technology and how it applies to and helps the inspection process. You should be able to sit with the team providing the inspection services and know that the inspection will provide the necessary information and details you need to make a proper valuation and assessment. With all the changes occurring in the industry, it’s becoming more and more apparent that having a partner to guide you through innovative growth is a necessity.
At Davies, we do not invest in or use technology for its own sake. We use our deep experience and expertise to help your insurance company achieve its goals through effective inspections. For more information about our risk and inspection services or the innovation technology used, please visit https://www.davies-group.com/northamerica/solutions/insurance-services/risk-inspection-services.