RSA’s insight partner, Foresight Factory, shares their views on the impact of emerging trends to the insurance sector.

Messaging apps such as Whatsapp and Facebook Messenger are overtaking social networks in terms of users  –  and brands are starting to follow. More financial institutions now realise messaging apps could be adapted as a means to engage with their customers. When there is no need to download or install an app, every conversation and exchange is stored in one place, it creates the frictionless living experience a customer is striving for, conversational customer service in these formats also help bring emotional warm to the relationship between brand and consumer. To handle the rise of conversation volumes, many brands are trialling intelligent chatbots, we expect over time natural language recognition will improve significantly enough that AI will become the main driver of this trend.