5 minutes, 41 seconds read
Published on Feb 24, 2020
Updated on May 10, 2020
Insurance consumers around the globe are seeking convenience and expecting better customer experience. From millennials to Gen Z, with the agile connectivity, irrespective of the industry has numerous options to choose from. As the competition intensifies the insurance industry has to jump into the bandwagon of technovation in order to provide improved accuracy, cost-saving and excellent customer experience.
Here is a list of the marketing trends in insurance that will prove to be a game-changer in the year 2020.
1. Robo Financial Advisors
According to a Business Insider Intelligence forecast, by the year 2020 Robo-advisers will manage investment products worth $1 trillion, which will spike up to $4.6 trillion by as early as 2022.
Robo advisors have been around for quite some time. In the year 2008, during the financial crisis, Jon Stein, a 30-year old entrepreneur launched “Betterment”, the first Robo-advisor. In recent years due to its low investment rates and data input based research results, it has increased in popularity.
It is basically designed for the people who want to manage their finances with low management cost. Based on respective data inputs, the Robo-advisors offer any advisory services.
The main purpose behind the making of the Robo-advisor is to bring the financial serv