New uses and practices are becoming the new norm and are accelerating.
In all sectors, in-demand services such as Netflix, Lime, Uber, or Deliveroo are shaping a new way of life. Progressively, short-term consumption of products and services has taken precedence over permanent ownership: everything must be accessible at anytime from anywhere, just a click away.
The Covid-19 pandemic is an illustration of this evolution. These last few months saw the rise of new consumer behaviors: billions of people have turned to the Internet in order to stay in touch with their relatives, get information, consume or help them work from home.
For Insurance though, creating a revolution requires a drastic change in the value chain. The answer to this is contextual insurance that embraces digitalization: not only does it simplifies offers, it optimizes the customer journey while offering additional services.
More integrated neo insurance solutions with digitalization
Contextual insurance transforms the relationship that brands build with their customers: the need for instantaneity, transparency, service and satisfaction at the time of use or consumption, which they must meet in a process of continuous evolution. Digitization enables more integrated neo Insurance solutions to be offered within the everyday life of the customer.
Today, Moonshot Insurance adapts its products and develops different technologies such as machine learning, artificial intelligence and real time data to meet the changing needs of consumers who are looking for a more flexible, fluid and relevant insurance.
To secure the act of use and consumption: contextual insurance enables automated solutions based on cutting-edge, controlled, replicable and adaptable technologies which, thanks to their ease of integration, can appeal to a very wide range of businesses that need to manage large volumes of data flows.
Insurance has to be simple, useful and accessible to everyone. But above all, insurance needs to be reassuring meeting the true expectations of customers.
Contextual insurance reassures the end customer through the serenity of his purchase: it secures his purchase. By doing this, contextual insurance increases the perceived value of the purchase for the end customer.
This creates insurance products that correspond to the customer’s concrete need for protection. Adapted to covering short term moments in life, contextual insurance focuses on protecting what’s essential in people’s lives.
A more responsible approach with contextual insurance
Our partner distribution platforms are also responsible by allowing the customer to personalize his purchase: contextual insurance avoids the standard products usually offered and instead offers products with parameters that really correspond to the customer’s need. Since all the data is already known, the consumer does not have to go through a user journey again with information questionnaires, and contextual insurance can then be established to cover what is essential for the consumer. It gives partners a more responsible dimension in what they offer to their customers: support that goes beyond the purchase.
For example, when selling a phone on your e-commerce platform we will push a breakage and theft coverage corresponding to the value of the phone at the time of purchase.
Contextual insurance offers a peace of mind and creates a positive image for the distribution partners in the customer’s eyes.