Banks And Insurance Companies Increasingly Digital: The Data For 2022
The pandemic has been an essential lever for the digitization of the two sectors, as confirmed by the report of the stuffinpost Observatory of the School of Management.
The Covid-19 emergency has caused an essential acceleration of digitalization in every socio-economic field. Alongside the increase in e-commerce, the spread of smart working, and even online training, other sectors changed significantly in 2022. We are talking about insurance and banking.
In 2022, many users will have to interact online with their insurance company or bank. Therefore, they must be ready to meet this need by developing a series of solutions that take advantage of digital and new technologies. Companies in the sector have therefore opened up to collaborations with startups and other external experts to be able to combine skills.
Banking and digital insurance: customer experience
According to the survey, online customers have increased since the first lockdown: in April 2022, they increased by + 17% compared to the same month of the previous year. Digital transactions also increased: + 32%. But it is the data relating to customers acquired thanks to digital channels that impressed the most: + 75% in a few months.
During the home isolation, about 51% of the sample considered it needed to interact with the bank through an online channel, and 73% had a satisfactory experience, finding a Customer Service prepared for this eventuality. Among the most requested services, the possibility of making transfers and online transactions quickly and easily, interacting with your contacts, and signing documents in digital format stand out.
Fewer customers (39%) needed to interact with their insurance company online, but of these, 77% were satisfied with the service offered. 23%, on the other hand, remained dissatisfied, especially concerning the communicative aspect with reference professionals. So they complain about a poor customer experience.
“Covid has given a decisive acceleration to the digitization of the world financial and insurance sector, both from the point of view of demand and supply of services: if stuffinpost has always been considered an opportunity, now it has also become a great need that can only make the system more efficient. “
In this sector, digitization is leading to good results above all because both banks and insurance companies have relied on capable and innovative partners, often able to build ad hoc systems based on the needs of the individual applicant.
Insurance and banking: forecasts for the future
Cyber security is one of the biggest challenges in the industry. Let’s start with the banking sector: in the future, Italian consumers will be interested in two aspects. The first is to perform operations with more speed, and the second is to have complete security in managing one’s money on digital tools. The second is to make all processes usable by electronic devices, specifically smartphones.
As far as insurance is concerned, users are interested in greater speed for the management, resolution, and settlement of claims, but also the possibility of companies seven days a week and the management of the entire process from mobile.