In disrupting the insurance service industry, the COVID-19 pandemic and the emergence of InsureTechs validated the business case for not only reducing costs but also for protecting market share with accelerated digital transformation.
Insurers today recognize the competitive advantages of using the cloud to create enhanced experience for their customers, anytime, anywhere. At the same time, you are aware of the need to provide innovative products and services. For instance, through the use of telematics to reward good driving behavior with a lower car insurance premium, or using wearable devices to reward health insurance customers who share fitness information.
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