A new research report from market research firm, Frost & Sullivan confirms what most insurers already know: personalization will be key when serving the clients of the future.
The report, Transformative Mega Trends Shaping Post-COVID Consumer Behavior says artificial intelligence (AI), machine learning and natural language processing will all take centre stage in post-pandemic marketing and client service.
“We forecast enterprises’ use of customer behaviour analytics to grow 20 per cent from 2020 to 2025. Creating intelligent experiences with the power of AI will allow companies to offer hyper personalization – a prominent component of converting an adopter into an advocate,” says Frost & Sullivan research analyst, Chaitanya Habib. “Use of existing data and analytics will help retain customers and allow for product upselling.”
She adds that companies will have to put health and hygiene into their core business strategies going forward, as consumers strive for safer, contactless and connected environments across their homes, cities and workspaces. “Also enabled by new connectivity technologies, cars will become points of health, wellness and wellbeing,” they add. “Top technologies such as healthcare wearables, mHealth apps, technologies for clean and pathogen-free interiors, driver monitoring and diagnosis will gain strong footholds.”