STEP THREE : VALUE-ADDED SERVICES
STEP THREE : VALUE-ADDED SERVICES
Key solution : blockchain While technology is crucial to offering customers a modern experience , it is often the culture in which it is deployed that differentiates a company from its competitors . IT security is an additional avenue that can be valuably exhibited to garner trust and loyalty from the public , while also reducing the risk of a claim being made in the first place .
“ And a step beyond accessibility and manageability is accountability ,” explains Perry . “ kompany ’ s new blockchain-based product , ‘ KYC onchain ’, creates an immutable record that these checks have taken place , streamlining the process for businesses and customers alike . While business verification automation has always made sound sense , the COVID- 19 situation has acted as a clarion call for companies to accelerate their digitisation efforts following the significant increase in business fraud and supplier / vendor failure .”
A culture of openness on the topic of security and compliance , claims Heaven , is something all insurance companies should embrace if they want to create trust and lower risk simultaneously . “ The client experience can be enhanced by sharing insights
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“ These companies [ regtechs ] can automatically assess regulation and compliance during the acquisition and policyholder monitoring phases against existing and emerging standard ”
— Chris Heaven ,
Global Head of Cybersecurity GTM , Capgemini
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