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Information technology is rapidly changing our lives. Tech has transformed the way we play and how we work. Insurance companies, especially small ones, have been particularly affected by the changes technology has brought to the industry. Here are three ways your insurance company can use the disruptive force of technology to gain a competitive edge and deliver great services.

Connecting

Tech can help you connect with potential clients and keep current ones satisfied. These days, a social media presence can help you advertise services and communicate with prospective clients; it can even enable current clients to promote your insurance company and help you attract brand new customers.  Your insurance company’s online presence can also help you better explain your policies and how to handle claims and increase your company’s transparency.  Overall, tech can provide you the kind of reach that no amount of advertising or customer service staff could ever match.

Outsourcing

New technology can help your insurance company cut costs considerably, too, a huge advantage in a word of razor thin profit margins. Greater connectivity enables you to outsource work to companies that can accomplish it more effectively, efficiently, and economically than you ever could in-house. VerifiaBill consolidated invoicing services are a perfect example of this. By using efficient technology platforms, VerifiaBill can enhance your insurance company’s return on investment by minimizing the time and money you spend on health insurance.

Collaborating

Powerful new tech lets your teams work together, no matter where they are. Cloud computing enables your insurance agents and other employees to store, access, and update data files remotely. Cloud-enabled software allows multiple users to work on documents at the same time. Actions like planning, reviewing, and presenting can all occur remotely now, thanks to collaborative tools that connect and enable your employees.

Parting Thoughts

Technology is transforming the insurance industry every single day. Is your company poised to leverage technology and gain a competitive edge over your rivals?