Monday, 11 August 2014

Underwriters urged to leverage digital technology for growth


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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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