The insurance sector and the digital divide

The insurance sector is no stranger to the risks of this divide, which affects older people

Home > Blog > The insurance sector and the digital divide

25.Mar.2022

Carlos San Juan, the 78-year-old Valencian citizen responsible for the "I'm older, not an idiot" campaign, has generated a heated debate about the problems faced by many people as a result of the digital divide, in his case, in the banking sector.
 
The insurance sector is no stranger to the risks of this divide, which affects older people, as well as culturally and socioeconomically disadvantaged groups who do not have easy access to technology, and simply people who do not feel comfortable with this new way of working. For years, the sector has been immersed in a process of digital transformation thanks to which, for example, it is possible to issue reports via an app, carry out video-appraisals or converse with a chatbot. And what is the goal? To understand customers’ preferences, answer their questions and offer products that fit their profile immediately and at the best price. Of course, without leaving anyone out.

Personal attention and proximity

For this purpose, the field of insurance has the figure of the mediator, who deals personally with the insured party. It is true that some companies operate only online, but even in these cases, the policyholder can contact a teleoperator who will pick up and channel the customer’s request. It is worth noting that most policies in Spain are arranged through insurance agents and brokers, who the user can always turn to if they have any doubts.

Empty Spain

For insurance it is essential to be physically close to your client. And a good example of this is that the sector has become a very important social link, given its presence in every corner of the country, particularly in the so-called empty Spain, for example, provinces such as Burgos, Teruel, Ourense, Cuenca or Jaén, where there are the most physical insurance company branches for every 1,000 inhabitants in the whole country.

Digitalisation assists the customer, simplifying things and allowing their experience to be as personalised as possible, but the industry understands that digitalisation is an option, never meant to exclude anyone. Experts say the most successful insurance companies will attract and retain customers by reinventing their operating system to support a phygital model based on a mix of physical presence and digital interaction that accommodates all users.

You may also like…

Digital risks: secure yourself against cyberattacks

Digital risks: secure yourself against cyberattacks

Simply having a smartphone on which you keep information related to the business, clients, accounts, suppliers and so on is enough... this is usually the main entry point for computer viruses, unauthorized access, fraud, system blocking, virtual kidnaps, data...

What is embedded insurance?

What is embedded insurance?

Linked to the purchasing process So-called "embedded insurance" is one of the big trends within this transformation process. In fact, a 2021 InsTech London report predicted that the global embedded insurance market will grow to $722 billion in gross written premiums...

ON-OFF Insurance: cover at the touch of a button

ON-OFF Insurance: cover at the touch of a button

  The philosophy behind this type of insurance is "pay-as-you-go", also known as the "on-demand" philosophy. On-demand For example, if you only use your computer when you are at home, you probably don't need to insure it; but if you take it on a trip, an...

Trip cancellation insurance: extra peace of mind

Trip cancellation insurance: extra peace of mind

Many hotels do not reimburse the booking fee and airlines only refund the cost of the ticket when the cancellation is due to reasons beyond the traveler's control. What should we do then? Can we get our money back? Agreed refund To answer this question we have to...

The insurance sector and social media

The insurance sector and social media

The extraordinary digital transformation process in which insurance companies are immersed has led them to have an increasingly active presence in this area. This is what has been revealed by the latest Insurance Sector Social Media Barometer, an x-ray analysis of...

Carsharing: how does insurance cover journeys in shared vehicles?

Carsharing: how does insurance cover journeys in shared vehicles?

This model, which allows more sustainable mobility, is rapidly gaining followers and in 2018 the Spanish Department of Transport (DGT) stated that, by 2030, 80 million fewer cars will be on the road in Europe due to carsharing. If you are one of the people who have...