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Chuks Udo Okonta
Insurance operators have been called to take
advantage of available Information Technology solutions to improve market share
and profitability.
The Information Technology Committee of the Nigerian
Insurers Association (NIA) gave this admonition in a report it submitted to the
association. The Committee charged underwriters to maximise use of innovations
such as mobile space; device and cloud services; messaging and collaboration;
social media; CRM dynamics; data analysis and business intelligence to boost
their operations.
The industry operators were urged to harness the potential
in providing alternative revenue collection channels to improve their premium
collection. They were encouraged to explore channels like pay direct; mobile
money; quick teller web; quick teller ATM; direct debit; funds disbursement and
more.
“Digitalised enterprise insurance is beyond distribution
channels – it is a total transformation of every process in insurance to reveal
an enhanced way of doing business. Insurance companies should leverage on
digital technology as a competitive advantage in its internal and external
process, which will result in efficient service delivery, profitability and
complete stakeholders’ satisfaction.” the committee said.
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