Industries / Insurance
In recent years, the role of private insurance companies has been expanding due to the rising demand for insurance caused by natural disasters, the increasing "longevity risk" caused by the aging of the population, and the apparent lack of financial resources in the public insurance system.
At the same time, the sales channels for life insurance have diversified in recent years, and in addition to the sales staff channel, there is a wider range of options for consumers, including agents, bank sales, mail-order sales, in-store insurance stores, and Internet specialists.
While areas that are profitable as insurance products, such as cancer, are already saturated, new insurance demands are emerging as a result of structural changes, such as those for "people with pre-existing conditions or diseases" who were previously difficult to insure, medical insurance where premiums are refunded at maturity if the insured is healthy, and the introduction of AI, robots, and automated driving.
Point Of View
ExaWizards of point of view
At ExaWizards, we aim to achieve the following goals in a saturated market through the social implementation of new technologies:
(1) Improve productivity of existing businesses by DXing customer contact points, such as a series of insurance claims and life insurance sales processes.
(2) Improve UX by personalizing insurance products and making them on-demand, such as by linking them to GPS and other terminals, warning of risk levels, and proposing combinations of insurance policies and changes in content based on AI analysis of personal data.
(3) Accelerate new businesses through the implementation of DX/AI that will contribute to the shift to risk avoidance services, such as risk consulting services for companies and "pre-disease/preventive" healthcare services for patients.
With these three main perspectives, we are working to solve social issues in the insurance domain.