Strategic plans unveiled by PasarPolis to seize opportunities in Indonesia’s insurtech market
Indonesian insurtech PasarPolis revealed its strategic plans to seize the nation’s insurtech market opportunities.
In a statement, PasarPolis stated that the insurtech sector expects 2024 to be a dynamic and transformative year.
It claimed that the environment is favourable for innovation and expansion due to developments in regulations, changing consumer preferences, and technological advancements.
Meeting changing customer expectations and utilizing emerging technologies are two important areas of focus, according to PasarPolis.
Customer-agent interaction dynamics are expected to change as generative artificial intelligence (AI) advances in the market.
According to the statement, AI will greatly facilitate the processing and filing of claims as well as speed up response and resolution.
It stated that as AI develops, they may be able to anticipate trends more precisely and proactively provide customized recommendations for products and policies that will benefit insurers as well as their clients.
PasarPolis also pointed out that one of the main traits of contemporary consumers is their demand for highly tailored offers that are pertinent to their requirements.
As a result, it appears that insurtech businesses need to be able to provide highly customized insurance products and services that meet the specific requirements of their clients.
Additionally, it stated that they want these offers to be quickly and simply available via digital channels, like mobile websites or apps.
“We have anticipated the trend of hyper-personalization in the insurtech industry quite some time ago. That is why we keep expanding our micro-insurance products,
“Our aim is to further democratize access to insurance and help people understand the true value of insurance protection in their daily lives,” said Peter Van Zyl, its President Director.
With a strong emphasis on innovation and market expansion, PasarPolis is dedicated to a solid strategy as it plots its course for 2024.
By utilizing state-of-the-art technologies, PasarPolis stated that it hopes to offer a wide range of insurance products that meet changing consumer demands along with a more creative customer experience.
According to the film’s strategic plan, it will enter new markets and prioritize forming alliances to reach a wider audience.
PasarPolis has experienced incredible growth in 2023, issuing roughly 2 billion policies since 2019. For gadget insurance, it is reported that 85% of filed claims were resolved in less than two hours, whereas 97% of non-credit insurance claims were resolved in less than a day.
