Employee benefits insurers are facing a fundamental change in the way consumers compare and consume their products in light of mandated insurance exchanges and shifts in customer expectations, according to a new report from Celent. To adjust, insurers may need to update their application architecture and case install/enrollment processes, where dramatic changes may be necessary for streamlining distribution and service channels.
Also, in the face of increasing automation and abstraction in the sales process, insurers will need to seek out new, innovative ways to stand out among customers. The report, “U.S. Enrollment Business Transformation: Changing Business Connections and Technology Challenges,” compares this last challenge to the concerns P&C carriers have around batch raters, this abstraction makes competition on brand value more difficult.
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