Transforming Engagement Can Change The Insurance Industry

Alex Zukerman is Chief Strategy Officer at Sapiens, empowering insurers with digital software platforms, solutions and services.

There’s a reason why companies mold their business around their customers. Around 84% of consumers feel that the experience a company delivers—including value, personalization and transparency—is just as important as the goods and services it sells. Traditional insurers, however, tend to struggle with the customer experience (CX).

For decades, the insurance sector has engaged with policyholders the old-fashioned way—agent phone calls, snail mail and page after page of paperwork. In retrospect, the ingrained inner workings of the industry—a product of time—now stick out like a sore thumb, especially in this digital age.

With technologies advancing and consumer expectations rising, modern market forces are compelling the industry to compose a new symphony of engagement—where a company’s interactions foster strong B2C relationships, experiences and loyalty. In the realm of insurance, seamless communication between insurers, intermediaries and policyholders across multiple digital platforms and touchpoints is now the benchmark for robust engagement.

Beyond fixating on the “latest” technologies, insurers can transform their CX by facilitating a customer interface that enhances and diversifies engagement strategies. Old engagement habits die hard, but the rapidly evolving digital consumer landscape that now surrounds insurers necessitates a two-part reevaluation.

Step 1: Reinvent Distribution

Insurers’ first course of action should be to reconfigure distribution approaches to insurance offerings. The reality is that more and more consumers are leveraging mobile apps and websites to search for and access insurance content. Therefore, traditional insurers have an opportunity to meet customers on the digital channels they already use. This means adopting omnichannel approaches and embedded insurance models that meet customers in their preferred areas using their preferred methods at times that are most suitable.

The gradual integration of IoT technologies and AI products like

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Growing Your Business in the Kitchen and Bath Industry as a Technology Integrator

Integrators have probable witnessed anecdotal proof, but there’s broader investigation that bears it out: desire for related kitchens and baths is climbing — rapidly—which signifies the small business prospect in bot is at an all time high.

According to Grand Look at Study, the section “is anticipated to develop at a compound annual development level (CAGR) of 11.6% from 2023 to 2030.”

There is possibility for integrators in the kitchen and bath industry— but how does a person convert it into much more business?

Due to the fact I provide as a liaison among Crestron and the style and design-build local community, I’m a typical at NKBA (Countrywide Kitchen area and Tub Association) features. I have learned that those people specifying kitchen area and bathtub merchandise — from designers to conclude-consumers — have a single issue in prevalent: they “don’t know what they don’t know.”

As a know-how integrator, you know what the prospective capabilities are for kitchen area and bathtub tech, including anything from lights to in-mirror TVs to automatic temperature controls for both equally air and h2o.

Your strategy — especially for high-end consumers — should be one particular that demonstrates the whole abilities of the technological know-how and helps them imagine the greatest prospective of their dwelling knowledge.

You’ll discover that a subtractive approach to discovery is a substantially improved approach than an additive one particular. If a shopper requires to pare down the checklist of alternatives you’ve introduced, you’ve now shown them the gold typical they can aspire to — and sparked their creativeness. And bear in mind: If a prospect is content with “good,” it is more durable to introduce “better” and “best.”

The Purposeful Kitchen: Considerable Tech Opportunities 

Photograph Courtesy/Crestron

Discovery is very important in the kitchen area. Consumers generally emphasis

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Shein, Temu and other e-commerce retailers are upending global air cargo industry

The rapid increase of quickly-trend e-commerce merchants these as Shein and Temu is upending the world air cargo industry, as they significantly vie for restricted air-cargo space to woo buyers with rapid shipping moments, marketplace sources say.

Shein, PDD Group’s Temu and ByteDance’s TikTok Store, which not too long ago launched online buying in the U.S., ship the bulk of their solutions straight from factories in China to consumers by air in individually addressed packages.

Shein and Temu collectively ship almost 600,000 deals to the United States each individual day, according to a June 2023 report by the U.S. Congress, and their rising recognition is boosting air-freight charges from Asian hubs like Guangzhou and Hong Kong, creating off-peak seasons practically vanish and producing capability shortages, the sources reported.

“The greatest development impacting air freight appropriate now is not the Purple Sea, it can be Chinese e-commerce companies like Shein or Temu,” explained Basile Ricard, director of Greater China operations at freight forwarder Bollore Logistics.

According to details aggregated by Cargo Specifics Consulting, Temu ships about 4,000 tonnes a working day, Shein 5,000 tonnes, Alibaba.com 1,000 tonnes and TikTok 800 tonnes. That equates to all-around 108 Boeing 777 freighters a day, the consultancy stated.

Driven by sturdy desire for their minimal-priced apparel — like $10 Cdn tops and $5 biker shorts — Shein on your own accounts for a person-fifth of the international rapidly-manner marketplace, calculated by revenue, and has fuelled development of China’s e-commerce field, in accordance to Coresight Study.

CBC News has arrived at out to Shein and Temu for remark.

View | Why Shein’s swift development raises environmental considerations: 

Shein’s immediate growth raises environmental issues

The rapid-vogue on the web retailer Shein is rising rapidly and gurus say it could inevitably rival Amazon. But as its financial gain

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Top 15 Countries with the Largest E-Commerce Industry

In this article, we will look at the top 15 countries with the largest e-commerce industry. We have also discussed the global key players in the e-commerce industry in detail. If you want to skip our detailed analysis, head straight to the Top 5 Countries with the Largest E-Commerce Industry

E-commerce has brought about a seismic shift in the world of commerce and retail. Traditional retailers have been forced to adapt or let their businesses decline, employment patterns have been disrupted, and consumer behavior has undergone a fundamental transformation. It is also true that the disruption caused by e-commerce is not a temporary phenomenon but a fundamental shift in the way we shop and conduct business. 

In 2023, e-commerce sales are set to increase by 10.4% which is expected to constitute 20.8% of all retail purchases. This transition to digital commerce presents an incredible opportunity for businesses, regardless of their size, to expand their reach and sales. The global e-commerce market is poised to reach $6.3 trillion in 2023. With the power to connect with customers worldwide, businesses can tap into previously untapped markets which grants them a global presence and untold growth potential. Looking ahead to 2026, the e-commerce market is projected to reach $8.1 trillion, affirming that e-commerce is not merely a trend but a lucrative long-term strategy.

In the United States, the e-commerce market is also booming, with an expected sales figure of over $1.1 trillion in 2023. This provides a golden opportunity for businesses to target a national audience and expand their customer base. Furthermore, 16.4% of all retail purchases in the US are expected to take place online in 2023. 

The fastest growing industry within the e-commerce market is food and personal care with an expected revenue increase of 64.2% from 2020 to

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Global Smart Rings – Strategic Business 2023 Report: Key Players Jakcom Technology, Logbar Inc., Mota Group, NFC Ring, and More Lead the Industry

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Global Market for Smart Rings

Global Market for Smart Rings

Global Market for Smart Rings

Dublin, Aug. 15, 2023 (GLOBE NEWSWIRE) — The “Smart Rings – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.

Global Smart Rings Market to Reach $23 Million by 2030

The global market for Smart Rings estimated at US$5 Million in the year 2022, is projected to reach a revised size of US$23 Million by 2030, growing at a CAGR of 20.9% over the analysis period 2022-2030. Bluetooth-based Smart Rings, one of the segments analyzed in the report, is projected to record 18.1% CAGR and reach US$12.4 Million by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the NFC-based Smart Rings segment is readjusted to a revised 25.1% CAGR for the next 8-year period.

The U.S. Market is Estimated at $1.6 Million, While China is Forecast to Grow at 20.5% CAGR

The Smart Rings market in the U.S. is estimated at US$1.6 Million in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$4 Million by the year 2030 trailing a CAGR of 20.5% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 18.1% and 17.8% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 14.7% CAGR.

Market Scope

This comprehensive report delves into the global Smart Rings market, providing analysis across various geographic regions, including the USA, Canada, Japan, China, Europe, Asia-Pacific, and Rest of World.

The report covers the recent past, current, and future trends for the years 2022 through 2030, offering an independent analysis of annual sales in US$ and the compound annual growth rate (CAGR) for each

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Expanded artificial intelligence is the future of the industry, and Philadelphia is playing its part

U.S. customers in 2022 spent a lot more funds wagering on sports activities than they did on experience-sharing apps and streaming solutions.

A lot more than $95 billion was wagered legally in the U.S. past calendar year, and it is worthy of comparing the sector with those people other two segments because we largely check out them as booming engineering industries. Sports activities betting is, also. Ninety % of that extra than $95 billion in bets was positioned on a cellular unit.

It’s truly worth noting, also, that all of that funds was wager with no legalization in the states of California, Texas, and Florida — the a few largest states. A lot more income is coming, eventually, and athletics betting’s explosion is, like that of almost each other present day sector, a story about the explosion of knowledge and tech.

Walk all-around a big sports betting convention and you’ll see much more tech corporations than sportsbook makes, and folks who glimpse extra like Pharma Bro than Pete Rose. It’s grow to be a race to see who has the fastest, greatest facts and who can create and push the user working experience of the long run.

» Read through Far more: Microbetting is on the rise, with unlimited reside-betting options on the horizon

Colloquially, several persons however refer to athletics betting with the royal “Vegas.” Even in the five-in addition decades due to the fact the Expert and Novice Sports activities Security Act of 1992 was repealed, paving the way for expanded legalization, individuals however request what “Vegas” thinks is likely to happen in the coming weekend’s huge sport — as if there are a number of individuals in football jerseys and shorts sitting down in a back room at the MGM Grand arguing over irrespective of whether the

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