If you’re intrigued by the idea of virtual reality, but not quite sure how it fits into insurance, you’re in good company.
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Goal-setting and strategizing are year-round pursuits for most insurance executives. New Year’s resolutions are unnecessary when you’re already motivated by an unwavering drive toward continuous growth and improvement.
Topics: Technology & Innovation Business Holiday
12 min read
Note: This article has been updated with an op-ed followup to reflect how today's pandemic-related challenges have impacted these twelve trends. Visit the new blog post here:
Last year, we outlined the major trends set to disrupt insurance in 2019. We explored a variety of digital, cultural, and economic developments - from AI and blockchain to gig work and the cannabis business - and their potential impact on the industry.
While these trends will continue to shape the insurance landscape in 2020, it’s once again time to look ahead at the next set of emerging issues and challenges.
2 min read
Mobile technology has transformed the way consumers interact with businesses. Anybody with a smartphone can quickly and easily compare insurance companies, get real-time quotes, purchase policies, make payments, and file claims — from anywhere and at any time. According to the IBM Insurance Blog, “When it comes to mobile technology, the most important thing to do is get started.” The article also warns of dire consequences for insurers that are still “planning to embrace mobile,” but haven’t yet begun.
3 min read
Electric Vehicle Costs
Electric vehicles have yet to dip down into the “economy car” price range. Today, the median price for an electric vehicle will set you back anywhere between $22,490 for a Nissan Leaf to $72,000 for a Tesla Model X, according to EnergySage.com. However, as is the trend with most new-to-market technologies, the purchase price should begin to drop as demand drives increased competition and economies of scale reduce production costs.