The UK's commercial insurance landscape is rapidly evolving. Businesses are not always adequately covered against new emerging risks, and yet many remain underinsured. In fact, 44% of UK insurers and brokers believe insurable assets are undervalued by 10-24%.
Our latest survey in collaboration with Insurance Post reveals what the biggest challenges of the commercial industry are, particularly during the onboarding journey.
With many different touchpoints and dependencies, the process of onboarding a new customer is often overly complex and slow.
Insurers and brokers reported their top priorities for improving the onboarding process as the ability to create a frictionless journey, achieving streamlined automation between brokers and insurers, realising efficiencies through data pre-population and using automated and digital ID verification to speed up proving client identity.