In an exclusive interview with Star Finanz Blog, Dr. Robin Kiera, founder of Digitalscouting.de and a thought leader in insurtech and fintech industry, answered questions about digitalization in the insurance and finance industry.
As someone who had a wide experience in the sales aspect of the insurance industry, Dr. Robin knows its nitty-gritty, and he knows what should be done – an effective integration of digital products and services.
Despite the undeniable need for digitalization, banks and insurance companies still can’t provide their customers with effective digital services. After all, Dr. Robin clearly stated, that the finance and insurance industry is not where the customer’s attention is; a more effective strategy should be done to attract the attention of young people and ditch the meaningless advertising that most companies are still into.
In recent years, seniors of the industry are now starting to realize that the power of the internet should not be belittled. One digitalization opportunity that Dr. Robin noted in this exclusive interview is a chance for insurers to establish themselves as a trustworthy partner in the lives of people against the existential risks of life.
The industry can surely gain enormous benefits from artificial intelligence, big data, or augmented reality but very few companies are prepared for this in terms of technicalities and workforce capabilities.
Digitalization in the insurance and finance industry is continuously developing. Banks and insurance companies should now make a big change of course towards technology-driven ways, leaving behind the traditional practices they are used to.