The insurance industry is in “the Stone Age” when it comes to using
technology, says the head of one of the U.K.’s biggest insurers.
Mark Wilson, chief executive of Aviva PLC, said that the London-based life and general insurer has been hiring staff from Google and Amazon in order to update its technology. He said that Aviva’s customers would buy more insurance products if they were easily available online in forms that were easy to understand, something he believes investing in technology can deliver.
“I think insurance is in the Stone Age while other people are circling Mars,” he said. Aviva currently spends £100 million ($153 million) a year on technology, he added.
The insurance industry has often been behind banks in allowing customers to do business online. Aviva launched an application to allow customers to access their accounts on their mobile phones last year.
As well as marketing more products and dealing with customers online, insurers are investing in technology to change the way they process claims and monitor risk-taking. For example, several U.S. insurers have gained permission to use drones for such tasks as assessing damage of insured property.
The insurance industry is in “the Stone Age” when it comes to using technology, says the head of one of the U.K.’s biggest insurers.
Mark Wilson, chief executive of Aviva PLC, said that the London-based life and general insurer has been hiring staff from Google and Amazon in order to update its technology. He said that Aviva’s customers would buy more insurance products if they were easily available online in forms that were easy to understand, something he believes investing in technology can deliver.
“I think insurance is in the Stone Age while other people are circling Mars,” he said. Aviva currently spends £100 million ($153 million) a year on technology, he added.
The insurance industry has often been behind banks in allowing customers to do business online. Aviva launched an application to allow customers to access their accounts on their mobile phones last year.
As well as marketing more products and dealing with customers online, insurers are investing in technology to change the way they process claims and monitor risk-taking. For example, several U.S. insurers have gained permission to use drones for such tasks as assessing damage of insured property.
Insustry: Aviva Boss Slams Insurance Industry’s Tech Progress - WSJ
Mark Wilson, chief executive of Aviva PLC, said that the London-based life and general insurer has been hiring staff from Google and Amazon in order to update its technology. He said that Aviva’s customers would buy more insurance products if they were easily available online in forms that were easy to understand, something he believes investing in technology can deliver.
“I think insurance is in the Stone Age while other people are circling Mars,” he said. Aviva currently spends £100 million ($153 million) a year on technology, he added.
The insurance industry has often been behind banks in allowing customers to do business online. Aviva launched an application to allow customers to access their accounts on their mobile phones last year.
As well as marketing more products and dealing with customers online, insurers are investing in technology to change the way they process claims and monitor risk-taking. For example, several U.S. insurers have gained permission to use drones for such tasks as assessing damage of insured property.
The insurance industry is in “the Stone Age” when it comes to using technology, says the head of one of the U.K.’s biggest insurers.
Mark Wilson, chief executive of Aviva PLC, said that the London-based life and general insurer has been hiring staff from Google and Amazon in order to update its technology. He said that Aviva’s customers would buy more insurance products if they were easily available online in forms that were easy to understand, something he believes investing in technology can deliver.
“I think insurance is in the Stone Age while other people are circling Mars,” he said. Aviva currently spends £100 million ($153 million) a year on technology, he added.
The insurance industry has often been behind banks in allowing customers to do business online. Aviva launched an application to allow customers to access their accounts on their mobile phones last year.
As well as marketing more products and dealing with customers online, insurers are investing in technology to change the way they process claims and monitor risk-taking. For example, several U.S. insurers have gained permission to use drones for such tasks as assessing damage of insured property.
Insustry: Aviva Boss Slams Insurance Industry’s Tech Progress - WSJ
