It’s a challenging time to be an established insurance provider – digital technology is transforming every industry, causing customer expectations to rise and a new wave of digital-first competitors to launch.
The consumers of today and tomorrow now demand instant 24/7 services, delivered on the channel of their choice, combined with the ability to self-serve and unapparelled customer support.
In the case of insurance, consumers want to quickly receive a quote, take out a policy and make a claim, while being able to access policy details and premiums whenever needed. Simply put, consumers want services and experiences tailored to their increasingly digital lives.
The latest wave of ‘Insurance Technology’ disruptors entering the market are only too ready to cater to those growing needs to ‘steal’ customers from established providers. One example is the recently launched mobile app Goose, that claims it can help Canadians take out travel insurance in less than 60 seconds.
Gresham House Strategic PLC (LON:GHS) has a 12% ownership of IMImobile.