How AI is transforming the Insurance Sector

Artificial intelligence development in Insurance sector
Role of Video Ads in Fostering your Brand Image. People are spending more than a billion hours watching Youtube videos. It comes to around 100,000 years, which is more than all of human history in a single day. That’s startling, isn't it? In addition to YouTube, video content on Facebook, Instagram and other social media platforms too have made a breathtaking leap. Whether it’s a makeup tutorial or a trailer for an upcoming blockbuster, people are more connected with the online world than ever before. The context here is to highlight the growing power of video content. As a PPC agency in India, the IKF believes video content to be a potential marketing tool for establishing connection with the customers. It’s an effective way to capitalize media platforms and gain business advantage. Creating awareness and building confidence through video ads. Seeing is believing, the adage is perfectly relevant in today's digital era. Videos are more engaging to a user than mere text. You can use video ads to explain a brand new product that’s hard to describe or even show why your brand is better than the competitor’s. Building customer trust is important for all businesses but is alo the trickier part. You need strategic and consistent brand messages to move closer to your marketing goals. Offering PPC services in India, we look at the rising popularity of video content as an opportunity to create meaningful interactions with the audience and to make your brand more approachable and genuine. As it's clear that video ad campaigns are key to your business growth, let’s take a look at some of the essential elements that define a good quality video. Professional grade presentation: Be it your website blog, videos, imagery or more, the quality of the content determines how well the viewers ingest your message. It is a reflection of the company’s standards. So, make an excellent first impression by displaying professionalism and competence with top quality content. Specifically, when talking of video ads many different factors come into play that define the quality of the content. A good script, smooth visuals, and perfect sound design are elements that can’t be missing. Just remember that users are very choosy, they won’t take a second to skip your ad or, worse, ignore it if it doesn’t match their expectations. Working as one of the PPC companies in Mumbai & Pune, we recommend our clients to focus on producing pieces that have a professional finish and meet the expected quality standards. Demonstrate your expertise through explainer videos: People when browsing online are usually trying to find a solution, the best one, to their specific problem. Therefore, when you offer useful and relevant content you set up yourself as a reliable source of information that prospects can trust. Off all the approaches adopted for sharing knowledge online, explainer videos stand as the most effective one. These are very short, usually animated pieces that are specially designed to illustrate complex business ideas (or concepts) in simple and engaging ways. What makes these videos stand out is that they are neither too promotional nor a persuasive sales pitch. Instead, they introduce the company’s products/services that subtly addresses the audiences’ pain points or needs. The ad is built around a captivating storytelling that resonates with the experiences of the prospects. They help create a personal connection and foster trust of the prospects. Humanize your brand: Brands are meant for humans, so why do some marketing messages seem so robotic? The difference between marketing that leaves an impact and the one that is easily forgotten is the ability to create a relatable and humanized message that sparks an instant rapport. To ensure lasting relationships with your prospects, you need to convince them that your brand actually cares about them and their problems. Real branding goes beyond flashy logos and display of products. Some intangible, emotive and narrative elements are what really give your brand a leg to stand on. A video content that’s relatable, interesting, empathetic, and, above all, humans serves the purpose. Company story videos and customer testimonial videos can do the magic! Company story videos are perfect channels to convey your brand’s culture, core values and/or story. The central idea is to show the “human element” side of your company and bring the audience closer to your brand. Here you need to be honest and genuine with your narrative. No other company will understand your journey better than you, so take the opportunity to tell your audience what drives you and what you stand for. Customer testimonials where people actually share their experiences with the brand’s products and services can serve as a motivating factor for others to follow the suit. It’s a culmination of small efforts and new ideas that finally contribute to a successful marketing campaign. So, don't overlook these suggestions. Even the leading agencies, offering digital marketing services in India would reinforce the above statements. If you successfully implement the above tips for your marketing campaign, there are good possibilities of bridging the gap between your brand and respective audience. Now you know the importance of video ads so what next? You need to promote your videos rightly on the most suitable platforms. Be it Youtube, Facebook or more, we can help you reach your marketing goals with our digital marketing solutions. As a PPC company in Pune and Mumbai, we can guide you through the ins and outs of the digital landscape. So, don't miss the opportunity. Take advantage of our experts and get ahead of your competition! For more information about our online marketing services, call us today on +91 88888 66110 or e-mail at sales@ikf.co.in

The use of AI (Artificial Intelligence) is revolutionizing the working system of different industrial sectors and insurance is just one of them. Besides the insurtech companies that are vouching for AI tools, the traditional insurance companies too are now showing eagerness to shift their business processes to AI based technologies. As masters of digital technology and established website design company in Mumbai, we understand the reasons behind its rising popularity. AI technology has the potential to optimize efficiencies- enhance customer satisfaction, manage risks, detect frauds, and improve the claim management system, and more.

AI-based technologies like Machine Learning, Natural Language Processing, Neural Networks, and Deep Learning find varied applications in the insurance industry. Here is how the AI application is impacting the Insurance working system.

Intelligent virtual assistants:

With chat bots in place its lot more convenient to address basic customer queries including product inquiries, claims status, FAQs and billing status. Available 24x7, these features simplify processes, enhance customer experiences and can also contribute to cost savings for the insurers. As an eminent digital marketing and web design services in Pune, we handled several projects and learnt during our journey that automated buying experience and personalized interactions can make lot of difference.

Faster claim settlements:

By omitting the manual and extensive paper work and applying the AI and Machine Learning you can automate some of the processes. This expedites the processing time and makes the operations faster. From the time a claim is reported to its validation and communication with the customer regarding the final settlement, things can be closed precisely and effectively at lesser time.

Reduced risks of frauds:

Countering frauds is a big challenge for financial institutes. But with AI-based technologies like facial recognition and sentiment analysis, you can keep a check on such issues. Risks associated with false claims can also be eliminated to a large extent. Predictive analytics is the AI tool that helps detect the likelihood of claim being fraudulent. Moreover, with visualization and data analytics, the potential risk areas that could not be detected by traditional tools can be curtailed.

website development company in India developing artificial intelligence apps for insurance sector

Greater personalization:

AI tools and data collected from IoT-enabled devices and other sources of information can help companies garner insights into the profiles and behaviors of their customers. This serves as the guideline to formulate personalized policies, new product offerings or even pricing insurance policies that meet the client’s expectations. Offering digital marketing solutions & website development services in India, we emphasize on the importance of personalized marketing. Insurance sector with AI powered features can gain business and credibility.

While the InsurTech startups are utilizing AI to develop better solutions for streamlining operations, creating sound underwriting models and improving customer service, the traditional companies are still in the experimental stage. Well, there can be no denying that AI provides opportunities for traditional insurers to modernize themselves; implementing AI is certainly not a straightforward process. Traditional insurers could face challenges integrating AI into their existing technology. Hence, it’s imperative to consult experts who can help with this.

With all the benefits that insurance companies can attain by using AI technology, it’s quite understandable that its scope is going to broaden in future. If you are thinking about how you can utilize AI in your business, get in touch with our experts at IKF. A website designing company in India, we can give you valuable insights that will serve your purpose.