7 simple and cost-effective steps to build a digital affinity insurance program in Asia

Many companies stay tethered to outdated legacy systems due to inertia or a lack of understanding of how digital programs can improve customer experience, audit procedures, identify fraud, and more.
 

Building a digital affinity insurance program can help companies:

• Enjoy a seamless user journey from registration, placement, quotation, and policy binding to claims reporting and processing.
• Get real-time data and analytics such as aggregated claims and loss ratio for data-driven decision-making.
• Facilitate easy tracking of the program’s performance on a centralised platform.

7 simple and cost-effective steps to build a digital affinity insurance program

1. Analyse customer experience – ensure that your customer views the insurance as a value-added product, and make sure to ease the purchase process for them. 
2. Evaluate a risk partner – work with a reliable risk partner to secure and arrange insurance coverage for your affinity insurance program. 
3. Assess tech requirements – ensure your platform governs how different disciplines work with one another to reduce disruption during implementation.
4. Enhance brand proposition – partner with companies that can ensure your marketing strategy complies with regional regulations while delivering an enhanced marketing approach.
5. Manage claims process – ensure that claims notifications are sent to you from the outset to reduce bottlenecks and inefficiencies.
6. Improve program performance – continuously optimise your program using data derived from the platform to drive greater customer value and satisfaction.
7. Navigate regulations – consult a third party to assess your risk tolerance and assist you in navigating regulatory requirements.