Insurance spans multiple generations of consumers, from tech-savvy millennials to Gen X to retiring baby boomers. The traditionalist may still prefer visiting an agent and writing paper checks for payment, while the more modern customer desires full digital access for all transactions. Insurance carriers must support the entire spectrum of customer relations to provide value and an improved customer experience or risk becoming a niche player. Making policy changes or payments must be simple—but “simple” as defined by the customer. Submitting claims and finding resolution must be fair, efficient and expedient. And one size doesn’t fit all.

Insurance carriers historically have focused on using data and predictive analytics for more accurate pricing and risk segmentation. As new data sources have emerged and capabilities advanced, insurance carriers have expanded their focus to include transformation opportunities and customer experience enhancements.