Technology isn’t just the way of the future anymore, it’s the way of today. If industries don’t come up to speed they may be going out of business; I’ve seen it happen.
Chicago, IL (PRWEB) June 17, 2013
Following the release of a June 4, 2013 article from BusinessInsurance.com, BelmanInsuranceAdvisor.com today announced that a technology based multi-prong approach to all aspects of the business is the future of the insurance industry. Whether it be an agent who sells auto insurance, home insurance, no medical exam life insurance, smart phone insurance, or major medical insurance- BIA believe that insurance agents and professionals must be willing to embrace the many types of technology available to the industry to continue drive profits and growth.
BIA agrees with BusinessInsurance.com’s article on technology and insurance companies. BIA believes that product development and being able to implement a product in a way that is friendly to the client is a key point. Software services and cloud based computing can dramatically increase revenue by bringing new products into a market. Utilizing this kind of technology can seriously reduce the software development time. In the fore mentioned article, Dan Harrell, a Senior Vice President with Liberty International Underwriters states, “A big issue for insurance companies is how to get a product out quickly. Being in a long software development cycle does not meet our needs, especially in a changing environment of soft markets and hard markets.”
Social networking is a necessity in promoting and expanding brand awareness. Companies are using sites like Facebook to interact directly with potential clients who are actively looking at and assessing their insurance needs. Other companies are taking it one-step further and engaging consumers in “challenges” by offering prizes for videos uploaded to YouTube.
There are a variety of emerging technologies available to insurers. Telematics, which is an amalgam of mobile communications, location technology and vehicle monitoring system, may revolutionize the auto insurance industry. Service-oriented architectures, or “SOAs,” allow a company to make their applications available on an as-needed basis via an intranet or the Internet. The technologies available to the insurance industry are a veritable smorgasbord of options. The intelligent use of which may be money in the bank in years to come.
Belman Insurance Advisor advises the use of a wide range of technologies available to the insurance industry. The use of technology will help promote brand awareness, provide a strengthened infrastructure and will increase profits. BelmanInsuranceAdvisor.com’s Senior Staff Writer can be quoted as saying, “Technology isn’t just the way of the future anymore, it’s the way of today. If industries don’t come up to speed they may be going out of business; I’ve seen it happen.”
BelmanInsuranceAdvisor.com reviews and analyzes all aspects of the insurance industry. BIA’s objective is to assist insurance agents, professionals and companies in making profitable choices.