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The 7 InsurTech Trends That Matter for 2021

The COVID-19 pandemic has triggered structural changes that have forced insurance players to become more competitive than ever. The pandemic has proved to be a catalyst, nudging insurers to prioritize their focus on improving customer centricity, market agility, and business resilience.

As per a report by Accenture, almost 86% of insurers believe that they must innovate at an increasingly rapid pace to retain a competitive edge.

‘Insurtech’, short for ‘insurance technology’, is a term being widely used these days to talk about the new technologies bringing innovation in the insurance industry. The digital disruption caused by technology is transforming the way we protect ourselves financially.

In this article, let’s explore the top insurtech trends for 2021 that will pave the way for the future of insurance. 

  1. Data-backed personalization

Insurance companies are increasingly drifting towards collecting data to understand customer preferences better. Using data collected from IoT devices and smartphones, insurance companies are trying to deliver customized advice, the right products, and tailored pricing. 

Personalization enables exceptional experiences for customers while offering them products and services tailored to their specific needs. The idea is thus to put customers at the core of their operations.

Some examples of data-backed personalization include the following –

  • Reaching out to customers at the right time. This involves pitching to customers when they are thinking of buying insurance like while making high-value purchases, during financial planning, or during important life events.
  • Reaching out to customers through the right channel. This involves reaching out to customers through appropriate platforms like a website or mobile app.
  • Delivering the right products to specific individuals. This involves delivering products to customers based on their specific needs like reaching out with auto insurance to a customer who travels often.

Take the example of the financial services company United Services Automobile Association. The organization collects data from various social media platforms and uses advanced analytics to personalize its engagement with customers. The company advises customers when they are buying automotive insurance or are looking to purchase a vehicle. The company also provides its customers tailored mobile tools to help them manage and plan their finances.

  1. Usage-based policies

One of the biggest trends in the insurance industry is the growth of usage-based policies. In the coming year, we are going to hear a lot more about the ever-growing popularity of short and very-short term insurance that needs to be activated quickly.

We are going to see the rise of dedicated apps that allow easily activating policies based on usage needs. For instance, one would be able to take insurance for a sports event or a travel plan.

  1. Robotic and cognitive automation (R&CA)

Both robotic process automation (RPA) and cognitive automation (CA) represent two ends of the intelligent automation spectrum. At one end of the spectrum, there is RPA that uses easily programmable software bots to perform basic tasks. At the other end, we have cognitive automation that is capable of mimicking human thought and action. 

While RPA is the first step in the automation journey for any industry, cognitive automation is expected to help the industry adopt a more customer-centric approach by leveraging different algorithms and technologies (like NLP, text analytics, data mining, machine learning, etc.) to bring intelligence to information-intensive processes. R&CA, therefore, encompasses a potent mix of automated skills, primarily RPA and CA.

In the insurance industry, there are vast opportunities for R&CA to ease many processes. Some of its use cases in the insurance industry include –

  • Claims processing – R&CA can help insurance companies gather data from various sources and use it in centralized documents to quickly process claims. Automated claims processing can reduce manual work by almost 80% and significantly improve accuracy.
  • Policy management operations – R&CA can help automate insurance policy issuance, thus reducing the amount of time and manual work required for it. It can also help in making policy updates by using machine learning to extract inbound changes from policy holders from emails, voice transcripts, faxes, or other sources.
  • Data entry – It can be used for replacing the manual data entry jobs, hence saving a significant chunk of time. There are still many instances where data like quotations, insurance claims, etc. is entered manually into the system.
  • Regulatory compliance – R&CA can be key in helping companies improve regulatory compliance by eliminating the need for human personnel to go through many manual operations that can be prone to errors. It helps reduce the risks of compliance breach and ensures the accuracy of data. Some examples of manual work that R&CA can automate include name screening, compliance checking, client research, customer data validation, and regulatory reports generation, etc.
  • Underwriting – It involves gathering and analyzing information from multiple sources to determine and avoid risks associated with a policy like health, finance, duplicate policies, credit worthiness, etc. R&CA can automate the entire process and significantly speed up functions like data collection, loss assessment, and data pre-population, etc.
  1. Data-driven insurance

Although insurance has always been driven by data, new technology means that insurers are likely to benefit from big data. Using valuable data insights companies can customize insurance policies, minimize risks, and improve the accuracy of their calculations.

Here are a few use cases of how insurance companies use big data – 

  • Shaping policyholder behavior – IoT devices that monitor household risk help insurers shape the behavior of policyholders.
  • Gaining insights on customer healthcare – Medical insurance companies are drawing insights from big data to improve recommendations in terms of immediate and preventive care.
  • Pricing – Companies are using big data to accurately price each policyholder by comparing user behavior with a larger pool of data.
  1. Gamification

Gamification is turning out to be a very interesting and promising strategy that may get a lot more popular in 2021. It involves improving the digital customer experience by applying typical dynamics of gaming like obtaining prizes, bonuses, clearing levels, etc.

Gamification has shown promise in increasing engagement and building customer loyalty. For example, an Italian insurance company was able to observe a 57% increase in customers (joining the loyalty program) due to a digital game created by the company.

  1. Smart contracts

Smart contracts are lines of code that are stored on a blockchain. These are types of contracts that are capable of executing or enforcing themselves when certain predetermined conditions are met.

The market for smart contracts is expected to reach a valuation of $300 million by the end of 2023.

The insurance sector can benefit from smart contracts because these can emulate traditional legal documents while offering improved security and transparency. Moreover, these contracts are automated, so companies do not need to spend time processing paperwork or correcting errors in written documents.

  1. Other key trends

Some other key trends that may be relevant in 2021 include – 

  • Extended reality – Although it’s still in its early days, extended reality can benefit the insurance industry by making data gathering much safer, simpler, and faster by allowing risk assessment using 3D imaging.
  • Cybersecurity – Since insurance companies are migrating towards digital channels, they also become prone to cyberattacks. That is why cybersecurity will remain a trend in 2021 as well.
  • Cloud computing – The year 2021 could witness cloud computing become more essential than ever before. 
  • Self-service – It allows customers to have an alternative path to traditional agents as per their need and convenience, and thus looks to pick up pace in 2021.

Conclusion

It can be concluded that the pandemic has accelerated the shift towards digital in the insurance industry. As for the trends for 2021, there seems to be a general inclination towards personalization, data mining, and automation in the industry.

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How Smarter Sales Apps Are Reinventing the Frontlines of Insurance Distribution

The insurance industry thrives on relationships—but it can only scale through efficiency, precision, and timely distribution. While much of the digital transformation buzz has focused on customer-facing portals, the real transformation is happening in the field, where modern sales apps are quietly driving a smarter, faster, and more empowered agent network.

Let’s explore how mobile-first sales enablement platforms are reshaping insurance sales across prospecting, onboarding, servicing, renewals, and growth.

The Insurance Agent Needs More Than a CRM

Today’s insurance agent is not just a policy seller—they’re also a financial advisor, data gatherer, service representative, and the face of the brand. Yet many still rely on paper forms, disconnected tools, and manual processes.

That’s where intelligent sales apps come in—not just to digitize, but to optimize, personalize, and future-proof the entire agent journey.

Real-World Use Cases: What Smart Sales Apps Are Solving

Across the insurance value chain, sales agent apps have evolved into full-service platforms—streamlining operations, boosting conversions, and empowering agents in the field. These tools aren’t optional anymore, they’re critical to how modern insurers perform. Here’s how leading insurers are empowering their agents through technology:

1. Intelligent Prospecting & Lead Management

Sales apps now empower agents to:

  • Prioritize leads using filters like policy type, value, or geography
  • Schedule follow-ups with integrated agent calendars
  • Utilize locators to look for nearby branch offices or partner physicians
  • Register and service new leads directly from mobile devices

Agents spend significantly less time navigating through disjointed systems or chasing down information. With quick access to prioritized leads, appointment scheduling, and location tools—all in one app—they can focus more on meaningful customer interactions and closing sales, rather than administrative overhead.

2. Seamless Policy Servicing, Renewals & Claims 

Sales apps centralize post-sale activities such as:

  • Tracking policy status, premium due date, and claims progress
  • Sending renewal reminders, greetings, and policy alerts in real-time
  • Accessing digital sales journeys and pre-filled forms.
  • Policy comparison, calculating premiums, and submitting documents digitally
  • Registering and monitoring customer complaints through the app itself

Customers receive a consistent and seamless experience across touchpoints—whether online, in-person, or via mobile. With digital forms, real-time policy updates, and instant access to servicing tools, agents can handle post-sale tasks like renewals and claims faster, without paperwork delays—leading to improved satisfaction and higher retention.

3. Remote Sales using Assisted Tools

Using smart tools, agents can:

  • Securely co-browse documents with customers through proposals
  • Share product visualizations in real time
  • Complete eKYC and onboarding remotely.

Agents can conduct secure, interactive consultations from anywhere—sharing proposals, visual aids, and completing eKYC remotely. This not only expands their reach to customers in digital-first or geographically dispersed markets, but also builds greater trust through real-time engagement, clear communication, and a personalized advisory experience—all without needing a physical presence.

4. Real-Time Training, Performance & Compliance Monitoring

Modern insurance apps provide:

  • On-demand access to training material
  • Commission dashboards and incentive monitoring
  • Performance reporting with actionable insights

Field agents gain access to real-time performance insights, training modules, and incentive tracking—directly within the app. This empowers them to upskill on the go, stay motivated through transparent goal-setting, and make informed decisions that align with overall business KPIs. The result is a more agile, knowledgeable, and performance-driven sales force.

5. End-to-End Sales Execution—Even Offline

Advanced insurance apps support:

  • Full application submission, from prospect to payment
  • Offline functionality in low-connectivity zones
  • Real-time needs analysis, quote generation, and e-signatures
  • Multi-login access with secure OTP-based authentication

Even in low-connectivity or remote Tier 2 and 3 markets, agents can operate at full capacity—thanks to offline capabilities, secure authentication, and end-to-end sales execution tools. This ensures uninterrupted productivity, faster policy issuance, and adherence to compliance standards, regardless of location or network availability.

6. AI-Powered Personalization for Health-Linked Products

Some forward-thinking insurers are combining AI with health platforms to:

  • Import real-time health data from fitness trackers or health apps 
  • Offer hyper-personalized insurance suggestions based on lifestyle
  • Enable field agents to tailor recommendations with more context

By integrating real-time health data from fitness trackers and wellness apps, insurers can offer hyper-personalized, preventive insurance products tailored to individual lifestyles. This empowers agents to move beyond transactional selling—becoming trusted advisors who recommend coverage based on customers’ health habits, life stages, and future needs, ultimately deepening engagement and improving long-term retention.

The Mantra Labs Advantage: Turning Strategy into Scalable Execution

We help insurers go beyond surface-level digitization to build intelligent, mobile-first ecosystems that optimize agent efficiency and customer engagement—backed by real-world impact.

Seamless Sales Enablement for Travel Insurance

We partnered with a leading travel insurance provider to develop a high-performance agent workflow platform featuring:

  • Secure Logins: Instant credential-based access without sign-up friction
  • Real-Time Performance Dashboards: At-a-glance insights into daily/monthly targets, policy issuance, and collections
  • Frictionless Policy Issuance: Complete issuance post-payment and document verification
  • OCR Integration: Auto-filled customer details directly from passport scans, minimizing errors and speeding up onboarding

This mobile-first solution empowered agents to close policies faster with significantly reduced paperwork and data entry time—improving agent productivity by 2x and enabling sales at scale.

Engagement + Analytics Transformation for Health Insurance

For one of India’s leading health insurers, we helped implement a full-funnel engagement and analytics stack:

  • User Journey Intelligence: Replaced legacy systems to track granular app behavior—policy purchases, renewals, claims, discounts, and drop-offs. Enabled real-time behavioral segmentation and personalized push/email notifications.
  • Gamified Wellness with Fitness Tracking: Added gamified fitness engagement, with rewards based on step counts and interactive nutrition quizzes—driving repeat app visits and user loyalty.
  • Attribution Tracking: Trace the exact source of traffic—whether it’s a paid campaign, referral program, or organic source—adding a layer of precision to marketing ROI.
  • Analytics: Integrated analytics to identify user interest segments. This allowed for hyper-targeted email and in-app notifications that aligned perfectly with user intent, driving both relevance and response rates.

Whether you’re digitizing field sales, gamifying customer wellness, or fine-tuning your marketing engine, Mantra Labs brings the technology depth, insurance expertise, and user-first design to turn strategy into scalable execution.

If you’re ready to modernize your agent network – Get in touch with us to explore how we can build intelligent, mobile-first tools tailored to your distribution strategy. Just remember, the best sales apps aren’t just tools, they’re growth engines; and field sales success isn’t about more apps. It’s about the right workflows, in the right hands, at the right time.

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