How can insurers take advantage of the opportunities offered by digitalization?

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Prevention is better than paying is the motto of digitalization. In the insurance industry, this should not only include the processing of claims, but also ensuring that they do not happen in the first place. No matter which industry you look at, preventing claims has become indispensable and this also applies to the insurance industry, which above all wants to prevent claims from occurring in the first place.

Digitalization provides a wealth of data that can be used specifically to protect customers from insurance claims. This is usually in the customer's interest, because insurance is only a safety net should a loss occur. Almost half of customers would even use such service offers for prevention, but only a few insurance companies have offered them so far.

How this can look in practice depends, among malaysia gambling data other things, on the data collected. Older policyholders prefer to obtain information, while younger customers are more likely to share information with the insurance company via apps. These include health apps, for example. In the future, damage prevention may not only relate to information from customers, but also to product manufacturers, for example. If, for example, it is known that a vehicle has serious defects that could potentially lead to insurance claims due to traffic accidents caused by technical defects, the insurance company can use digitalization to inform customers within seconds, for example by email. This way, numerous insurance claims can be avoided.