LivePerson’s Post

Mobile Phone Insurance Market is Booming and Predicted to Hit US$ 81.1 Billion by 2032 The global mobile phone insurance market size reached US$ 37.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 81.1 Billion by 2032, exhibiting a growth rate (CAGR) of 8.7% during 2024-2032. Read More: https://lnkd.in/ggPgkm-e #marketresearch #business #marketanalysis #markettrends #researchreport #marketreport #marketforecast #marketanalysis #marketgrowth #imarcgroup

To reinforce its value of ‘Consumer Obsession‘, Tata AIA Life Insurance (Tata AIA) has introduced digital payments via WhatsApp and Unified Payment Interfaces. This industry-first feature provides an instant premium payment facility through WhatsApp and UPI-enabled payment options. The newly added payment option is first-of-its-kind in the insurance industry. The agile, seamless process allows consumers to pay premiums digitally and receive a quick premium payment confirmation and acknowledgement. In addition to being easy to use for both tech and non-tech-savvy consumers, it also offers a hassle-free premium payment experience. Read more: https://lnkd.in/diEMyYGT #IndiaTechnologyNews #TataAIAInnovation #DigitalPremiumPayment #WhatsAppPayment #UPITransactions #InsuranceConvenience #IndustryFirst #CustomerExperience #FinancialTechnology #SecureTransactions #EasyPaymentOptions

Finaccord's latest series of reports, Mobile Phone Metrics: Consumer Approaches to Insurance and Extended Warranties for Mobile Phones in Selected Global Markets 2022, is now available for purchase. Why is this series needed? Key trends relating to insurance and extended warranties for mobile phones have changed since Finaccord’s last survey on this topic in 2017 – in particular, take-up rates for cover have increased in all the countries in scope. These reports provide an updated, detailed analysis of this topic to help insurers understand consumer behaviour and identify future opportunities. How many respondents have been surveyed? We surveyed over 13,000 people for this series. In Australia, Canada, France, Germany, Italy, Spain and the UK at least 1,000 people were surveyed. In Brazil over 1,500 were surveyed and in the US and China around 2,000 were surveyed. What is the key information provided by the reports? The series offers information about key metrics in four main areas: - The underlying market for mobile phones - Take-up rates for mobile phone insurance and extended warranties - The distribution channels and purchase interfaces used to acquire stand-alone cover - The perceived risks covered, claims frequency and reasons for making a claim https://lnkd.in/e7JiNFb #insurance #insuranceindustry #consumer #consumergoods #consumerelectronics #consumerbehaviour

Max Life Elevates Customer Experience with AI-Powered WhatsApp Chatbot 'Mili' #AI #artificialintelligence #cloudinfrastructure #customerdatasecurity #endtoendencryption #Insurance #llm #machinelearning #MaxLifeInsurance #Mili #multilingualsupport #realtimecustomerservice #selfservicecapabilities #Software #WhatsAppchatbot

Navigating the digital landscape has become a crucial task for insurance providers. Ensuring seamless transactions at pivotal points of customer interaction can significantly enhance user experience and satisfaction. As payment and claims are the most frequent and the most sensitive interactions, #InsuranceCompanies are looking to #DigitalTransformation, focusing on ease and convenience. However, improving the digital infrastructure is not just about incorporating technology but understanding and catering to the diverse preferences of customers. It is imperative not just to adopt digital mechanisms but also simplifying them. Solutions need to be convenient and user-friendly to drive customer adoption. Simple solutions like AutoPay, guest checkout, self-service options can significantly streamline transactions. Moreover, with mobile interactions becoming increasingly popular, responsive communication and clarity in communication have become a necessity rather than an option. Offering interactive reminders and clear, accurate payment confirmations, can promote user-engagement and uphold policyholder trust. While digitization is the way forward, insurance providers should not discard different payment modes preferred by different customer demographics. Enhancing the digital payouts experience while offering multiple integrated payment methods, insurers can balance new-age digitization with traditional practices. Put simply, the adoption and impact of digital transformation in insurance will be largely determined by how well we understand and address the needs and preferences of policyholders. #InsuranceTech #CustomerExperience #InsuranceIndustry #DigitalPayments #SelfService #OmniChannelExperience #ClaimsPayment #PremiumPayments

Insurance companies are moving to conversational commerce to engage clients. Accessible, everyone can use WhatsApp Protect Brand with Verified Sender Provide Quotes, follow up Send renewal reminders Integrated payments Read our Payemoji Blog - WhatsApp my Insurance Company https://lnkd.in/dC_WjtHj #Payemoji #conversationalcommerce #insurance #whatsappbusiness

How Insurance Providers Can Leverage IVR Payments for More Efficient ACH/eCheck Transaction Processing In today's fast-paced digital world, insurance companies have a unique opportunity to streamline their payment processes and enhance customer satisfaction through the adoption of IVR Payment systems that incorporate ACH/eCheck transactions acceptance. IVR Payment systems that incorporate ACH/eCheck transactions acceptance are a cost-effective solution that can lead to significant cost savings by minimizing processing fees typically associated with credit card transactions and reducing the costs related to paper-based payment methods. IVR Payment systems also enable insurance companies to improve the overall payment experience of their customers by offering convenient and accessible payment options., The 24/7 availability of IVR Payment systems means policyholders can manage their payments at their convenience, leading to higher satisfaction and loyalty. Making available IVR Payments which accept ACH/eCheck transactions represents a strategic move for insurance providers. It's not just about embracing technology; it's about providing a service that aligns with the needs and expectations of modern consumers. As we continue to navigate the digital landscape, such innovations in payment processing are crucial in keeping insurance companies competitive and customer centric. Read the article: https://lnkd.in/gvQDzYWQ At Datatel we help Insurance companies Secure and Optimize their Customer Phone Payment Experience! Connect with us: https://lnkd.in/gnUPuD_R #InsuranceTransactions #eCheckPayments

Automated Customer Service in Insurance: The Rise of Chatbots https://hubs.ly/Q01YXjyT0 Take a couple of minutes and have a read of this informative blog, highlighting the benefits of digital employees for enhanced customer service in the insurance industry. #Insurance #CX #CustomerService #Chatbots #DigitalEmployees

Yesterday I was the victim of a mugging on the street in London... and was relieved to be covered by an embedded insurance solution... What can I say? Yesterday I was in #London to attend Insurtech Insights. The focus is on new #technologies, #customer-centric solutions and the potential of new trends such as #embedded #insurance. I would rather not tell you about my own personal embedded insurance case, but I am very grateful to be able to #benefit from it as a #customer. Being robbed is not a good experience, as you can imagine. After being able to remotely lock my iPhone immediately using FindMyPhone, I contacted Apple Care+ to report the theft and take advantage of the "convenience" of being able to order a new iPhone for a comparatively low deductible. Despite this shocking #experience, this kind of "peace of mind" creates a certain calm and serenity. After all, I only lost a phone, which will now be replaced. Without this type of #cover, the incident would have been much more inconvenient. Now AIG, the insurer behind Apple Care+, is handling my #claim. The process was very quick and "barrier free" online and digitally. I hope to be back online with a new phone next week. Until then... a bit of digital detox. So please don't be surprised if I don't respond immediately to WhatsApp or other messages, or if I'm not available by phone... My conclusion: embedded insurance opens up new customers, creates customer-centric solutions and, if the process behind it is well solved, provides positive customer touchpoints and experiences. I will definitely be using Apple Care+ for my next iPhone. In a shocking moment, an insurance solution has covered me - I will be a loyal customer.

Just imagine your clients using WhatsApp to renew their car insurance, book their next holiday or select their utility supplier... Stop imagining, the WhatsApp for Business API can revolutionise your sales today! 🚀 📱 🚀 Here is a case study for insurance: https://lnkd.in/djXGpKTj #whatsappbusiness #insurance #whatsappapi #lowcodenocode #discoverdigital #changeisourconstant