Insurtech is in a new age of digital transformation. Insurtech entrepreneurs are searching for new advancements in data capture and analysis that allow insurance companies to do their jobs more efficiently and effectively.
For many early adopters, new tech solutions serve to help the company adapt to the evolving needs of today’s consumer and their preferences. Bots and more online forms aren’t how consumers want to interact with businesses anymore. Many have turned to visual mediums like personalized videos and web conferencing as way to bring back personalization in a way that is both scalable and cost-effective. These technologies allow insurers to better communication with clients by sending a pre-recorded video or via real-time video chat.
With the growing use of video communications also comes the increasing need to make sure that improper information isn’t shared (i.e. presenters don’t disclose an account number/sensitive personal information or they don’t make a statement that would trigger an issue with the FCA.) Theta Lake helps these businesses by offering a full compliance suite to access video content for potential regulatory risk and streamlining business workflow processes for compliance review.
Read the full Accenture article here.