SUSTAINABILITY FACTORS OF INSURANCE SALES

Abstract

Availability of new data sources through technology
development is increasingly affecting the business of insurance
companies. Digitized information is used to improve the value of
insurance process. Fast progress in technology and the internet
provides great opportunities for insurance companies. New
distribution channels are created that change the delivery mode of the
service. Price comparison sites provide consumers with more product
and cost information. Modern consumers rely more on their insurance
decisions and want to integrate through different channels while
exploring and purchasing insurance. At the heart of any industry
disturbance - including insurance - the key fact is the rise and
upgrading of the next generation of digital technologies. As people are
replaced with software and technology, technological change leads to
changes in the needs of new staffing solutions. Existing skill sets are
no longer needed, and insurers face the challenges of restructuring
their workforce. Many insurers see attracting true "digital" talents to
their work environments as a strategic move because they will use
them just to build up modern platforms that will increase their
competitive advantage.