Zurich Study Focuses on Insurance, Technology for Emerging Consumers

“The technology landscape in developing countries is changing rapidly – sometimes outpacing industrialized markets,” according to a new study from Zurich Financial Services.

“These changes are driving innovations and providing access to new markets in ways that were unimaginable just a few years ago. They not only open exciting opportunities for inclusion of unserved customer segments but are also setting the pace for insurers focused on growing with emerging market customers.”

The study, “Insurance & technology to better serve Emerging Consumers – Learning to improve access & service,” is part of the company’s continued “commitment to delivering insurance to emerging consumers,” said the announcement. It incorporates “more than two dozen interviews with microinsurance and technology experts drawing a picture of immediate and near-term tactics in the areas of “Usability”, “Affordability”, “Investment” and “Regulation.”

From the interviews Zurich concludes that there is a “tremendous opportunity in providing low-cost high-value insurance policies with a focus on scalability and efficient processes and how many of the doors to access this customer segment are being unlocked through the changing technology landscape.”

Source: Zurich Global Microinsurance Practice