As we set our feet in 2023, having experienced a roller-coaster ride last year thanks to the geopolitical tensions and some lingering rub-off effects of COVID-19, it drives home that "change is the only constant." Like any other industry, insurance is undergoing paradigm changes at different levels, whether recruiting potential candidates or customer onboarding, to name a few. However, a common thread that ties the myriad business functions of an insurance company has been data and innovation. There has been an ever-increasing need for insurance providers to use data and embrace innovation in their routine activities, eventually to stand the cut-throat competition.
As 2021 came to a close, we couldn't help but notice how what was inevitable in the future was becoming necessary now. While a normal practice would be to predict what lies ahead of us in 2022, we decided to take a different approach this year. In our second edition of the Aureus yearbook, we will take a closer look at what has delivered superior CX (Customer Experience) in the insurance industry this past year. While there is nothing new about focusing on your customers, we shall examine the role data has played in assisting companies up their CX game.
While the world around us is changing so rapidly, adapting to this change is no longer an option but a necessity to survive. The Indian Insurance Industry, too, as a whole, has proven its resilience in the current dynamic context but nevertheless continues to face various challenges to be dealt with as it navigates through this evolving landscape. As innovators, we at Aureus Analytics felt the urge to aid these giant strides with a little insight from the who's who of the industry. Thus, came about the metamorphosis of 'Aureus Insights' from a weekly blog to a periodically published yearbook in India that encapsulates this changing trend in the inaugural edition, the AI landscape, and a bird's eye view of what we can expect on the road ahead.