3 Technology Trends of 2019 That Have Improved Auto Insurance

​As we live in a world where technology becomes a part of our everyday lives, claiming the insurance money and applying for help is only a click of a mouse away. Technology has indeed enhanced the workflow of the insurance industry. To understand more about it, here is the list of modern techniques used by big corporations to improve the car insurance industry.

​Automated Claiming Process
Insurance works in the principle of delayed gratification in a way that they expect a financial backup in case something unfortunate happens. Therefore, customer satisfaction declines if a claim is not processed within a specific timeframe.

This was resolved by reducing human intervention and introducing a new automated system that parses historical data. Each claim processed by the machine can provide a better way of processing the next one in the future. All of these processes are said to adhere to the regulatory process set by your insurance provider. Using this method, processing of minor claims are completed with minimal human intervention. This makes the claiming process time saving and cost efficient.

Cybersecurity
As insurance companies start to use the technological space, they also become in need of a more secure environment for all the data that they hold. A customer shares their data despite knowing that it can easily be exploited, leading to dire consequences. Luckily, it is now possible to guard this collection of sensitive data using advanced technology. In 2019, many insurance companies are using different cybersecurity software that will protect their client’s data in a highly efficient manner.

Chatbots and Artificial Intelligence
Chatbots that are powered by artificial intelligence are what usually interact with clients when they visit a site online. They can understand specific questions, solve it, and present the customer with the most accurate answer it can find. It can also filter simple and complex issues, bringing efficiency to the insurance industry. They also reduce the time and money that are usually spent on customer relations, since they can adequately answer the simple queries. Artificial Intelligence is also evolving with each interaction, becoming more and more efficient.

As we enter the golden age of technology, it is easier to apply for car insurance that will protect your assets, specifically your car. Make sure to talk to an insurance company first about their technological security before signing up on a policy.

At Insurance Agency Network, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (425) 681-0996 or Click Here to request a free quote.