Amidst the growing footprint of Insurtech around the world, Insurance service models continue to evolve for both front and back-office processes. Currently, InsurTechs are using AI in three main areas: Customer Experience (58%), Product Innovation (43%), and Process Improvement (19%) — according to a McKinsey report. An organization’s ‘Front Office’ strategy will need to embody intelligent sales force automation, call-centre management, help-desk applications, product configuration and risk assessment tools. Insurance Carriers are restructuring these operations with an outward focus — aimed at improving interactions with their customers.
While the Insurance back-office is focussed on streamlining in-house operations, the front office is responsible for driving customer experience, engagement and behaviour. However, most front-office operations deal with repetitive customer-facing jobs. Using