• Connected customers expect connected insurance

    By: SilverBridge AdminJuly 30, 2019
    In today’s digital world, insurers must adapt to better service the needs of customers who have come to expect an integrated experience across all channels. Ben Burger, Managing Executive at SilverBridge, says this continuous customer journey requires a different approach to what has come before. “The emergence of the digital customer is resulting in the need to deliver more personalised services. These services need to be easily accessible, user-friendly, and use the channel the customer is most comfortable with. Moreover, the service should be able to provide a seamless experience across multiple channels to conclude any interaction between the policy...
  • How insurers can remain competitive

    By: SilverBridge AdminJuly 23, 2019
    Globally, insurers are investing in digital technologies to meet increased customer expectations for more customised solutions. JC Oberholzer, Chief System Architect at SilverBridge, believes the rise of insurtechs are adding further impetus to the need for incumbents to embrace more innovative product development. The transition to this more dynamic environment has not been without its challenges. An increasingly complex regulatory environment, a history entrenched in legacy systems, traditional business approaches that promote a siloed approach, and a culture resistant to change have contributed to perceptions that insurers are still too slow-moving around innovation. “Fortunately, insurers are aware that things must...
  • Record keeping in the age of compliance

    By: SilverBridge AdminJuly 9, 2019
    Data as a resource is a critical asset for insurers. With so much data available, how should they approach the management thereof when it comes to record-keeping and reporting? Angelique Strumpher, Administration Manager at SilverBridge, examines the impact regulation such as FAIS Fit & Proper, POPIA, PAIA, and FICA has on how data should be stored, retrieved, and protected. “If a company is unable to securely store both data and documents pertaining to a ‘data subject’ (the term used to describe the consumer of products and services, in other words you and I are ‘data subjects’ in terms of POPIA),...
  • Digitalisation for insurers

    By: SilverBridge AdminJuly 4, 2019
    Insurance has long been associated with cumbersome, paper-based, manually driven processes. That is no longer good enough. The modern insurer needs to be digitally-savvy to address the needs of increasingly discerning customers, says Kelly Preston, Digital Manager at SilverBridge. “The move to digitalisation has been a long time coming. In the 90s much focus was placed on the paperless office. While this sounded good in principle, the technology and organisational will were not advanced enough to realise this vision. Today, every business revolves around migrating to a digital environment that is not only more cost-effective, but also significantly more efficient,”...
  • What does omnichannel mean for insurance?

    By: SilverBridge AdminJuly 1, 2019
    For insurers, embracing digital and customer-centricity is really important as they strive to offer customers consistently exceptional experiences. According to Accenture, adapting to changing customer expectations using digital solutions is a fundamental part of this. However, a daunting component remains embarking on an omnichannel strategy that combines innovative technologies with real-time data analysis. Nelson Camara, Marketing and Sales Executive at SilverBridge, says this will assist insurers to deal with changing customer expectations. Fundamentally, omnichannel entails the creation of a seamless experience for customers across all touchpoints. So, unlike traditional approaches that see communication channels run in parallel to one another,...