Insurers bet on simplification and personalization to improve customer relationships

Insurance companies are betting on simplification and personalization to enhance their relationship with clients. The sector has observed a shift in customer demand, which now calls for more transparent, straightforward processes. Artificial Intelligence (AI) presents an opportunity to elevate client interaction to a higher level. Insurance companies must be more connected with users, listen to them proactively, and anticipate their needs. This trend has already been established in the insurance sector.

Carlos Hernández, Director of Business at Segurcaixa Adeslas, and Eugenio Yurrita, BBVA Seguros' Chief Executive Officer, explained during their respective interventions at the XVII Financial Expansion-KPMG Meeting, organized with the collaboration of American Express and Cunef University, that the change in demand stems from a variation in client profile.

Today's customers are more informed and digital. They demand more support and the ability to understand their needs, offering them relevant solutions. The most important aspect is understanding what the user needs to protect and providing a solution, Yurrita stated.

Insurance companies have recognized this shift and expanded their range of solutions, offering classic products with enhanced and more specific services. For example, in the health sector, the customer now expects not only correct attention but also support and specialized services. Consequently, the insurer focuses on prevention: nutrition, sleep control, etc. Multichannel communication becomes increasingly important in this scenario, as customers alternate between digital and physical channels.

The key to success lies in the rules of multichannel communication, according to Hernández. While bank office attention will still be relevant, it will focus more on support and advice.

The development and implementation of AI-based solutions are also shaping the daily agenda of insurers. BBVA Seguros' CEO believes that technology offers a spectacular opportunity to make insurance information more accessible and interesting for customers. Integrating insurance services into AI assistants can take client attention and experience to the next level.

Hernández also agrees that AI has a transformative capacity in the insurance business, allowing access to much more information to anticipate customer demands and guide users to the relevant product.