The ‘Race To Zero’ In Insurance SaaS

There has been a radical change taking place in insurance over the past few years. It revolves around the race to zero — or, the concept of streamlining the end user experience to ask less and less information when it comes time to file and process claims.

Regardless of what stage of the digital transformation journey the industry has been in, meeting and exceeding customer expectations has always been a priority — as has been the journey to find smarter ways to do business.

Without either of these things, not many organizations would be successful. Asking less and less from consumers is not necessarily a new concept — but that doesn’t mean that it isn’t more important than ever in 2020.

In 2020, not only is the race to zero more possible than ever (thanks to improvements in software-as-a-service (SaaS), digital technologies and data ecosystems), it’s becoming an expectation.

This is largely being driven by two things: new generations of digitally native consumers who are used to seamless data integrations and information access across every aspect of their lives; and organizations looking for ways to evolve their processes to work smarter and more efficiently to meet these expectations while also remaining profitable.