Business Reporter: Embracing insurtech to increase margins and retain customers

How incumbents can stay in the game by designing journey’s from the customer up

LONDON, UNITED KINGDOM, November 23, 2021 /EINPresswire.com/ -- In a video published on Business Reporter, Ross Sinclair, Founder and Chief Executive at EIP Limited argues that while at this stage insurtechs can’t manage without incumbents, equally traditional insurers are dependent upon insurtechs to provide the hassle-free enrolment and claims processes that customers are now gradually coming to expect. There has to a degree, been a lack of trust in the insurance sector for the last decade or so. The impression of the general public is that insurers put their own commercial interest ahead of those of their customers.

What insurers need to embrace, however, is the fact that by leveraging this new technology it can help them increase their margins but also massively improve the customer experience, and thus make their business model more competitive.

EIP’s solutions help businesses such as mobile network operators, banks and insurers, offering subscription based insurance products, to not only present their customers with more attractive insurance premiums but with their 100 percent automated claim engine, and market first ‘autoclaim’ feature, customers can submit a claim, have it approved and arrange a repair all in less than 10 seconds and with only two button presses.

To learn more about how EIP’s solutions can help insurers, watch the video¹.

•• About Business Reporter ••

Business Reporter is an award-winning supplement published in the Sunday and Daily Telegraph, City AM and online, delivering news and analysis on issues affecting businesses to a global audience. It also hosts conferences, debates, breakfast meetings and exclusive summits.

www.business-reporter.co.uk

•• About EIP ••

EIP is a provider of white-labelled Insurtech software and a plug and play digital marketplace to enable leading corporates to offer subscription insurance products to their end customers. The company enables subscription-based insurance providers to reduce costs, maximise profits and upgrade their digital customer experience. EIP’s clients include some of the largest mobile communications, banks and Insurance companies in the world.

https://eip.eu.com/

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¹ https://business-reporter.co.uk/2021/11/01/re-designing-from-the-customer-up-how-to-transform-insurance-with-digital-technology/