Understanding the Digital Revolution

Running head: UNDERSTANDING TO DIGITAL REVOLUTION
Potential Impact of Smartphones on the Insurance Industry
Name of Student-
Name of University-
Author’s Note-

UNDERSTANDING TO DIGITAL REVOLUTION Part4: Disruption1
Part 1: Research
Smart Phone
The mobile telephone and the mobile industry is considered as one of the latest
technologies that is evolved in the industries recently. The mobile technology is changing the
business environment that allows all the market participants reach their clients easily and
communicate with their customers with no cost or minimal cost (Händel et al., 2015). A
smartphone is basically a cellular telephone, that has an integrated computer as well as other
features including telephones, operating systems, running software applications, and web
browsing. Smart phones are used in every sector of human lives. Humans use smart phones in
every sector of life from an education sector to construction sector. The usage of smartphones
have changed the human lives to a great extent.
Insurance Industry
The word insurance means protecting the financial loss. The Insurance industry is
managing the risk or uncertain loss. The person or the entity who provides insurance is insurer,
insurance carrier, insurance company, or underwriter. The person or the entity who takes the
insurance is called as policyholder or insured (Eling & Lehmann, 2017). There are different
effects that the insurance does on society. The society bears the cost of damage or the loss of
damage. There are some disadvantages as well of using insurance. The insurance can increase
the fraud rate.

UNDERSTANDING TO DIGITAL REVOLUTION Part4: Disruption2
Part 2: Brainstorming
Three possible ways about how Smartphone change the Insurance Industry-
The smartphone can change the Insurance industry in the following ways.
Customer service is improved-
The insurance company can get the data of the customer and contact then as quick as
possible (Handel et al., 2014). This helps the company to increase its contact with the customers
and increase its service. The smartphones helps to mitigate customer satisfaction within the
industry.
Workflow and Operations are improved-
With the implementation of smartphone, the employees of the insurance company get
search their customers and personally give a better service to the customers. Smart phone are
best for contacting the data and makes the operation of the insurance company more efficient.
More Convenient-
As the services are offered by smartphones makes the service better, the working process
of the company becomes more efficient (Guzzetti & Pasquinelli, 2015). As most of the
customers uses smartphones, offers can be sent to the customer regarding insurance and the
customers can be explained about the features that the insurance company provides.
There are many industries as well where smartphone plays a significant role. Other
industries that include the use of smartphone is manufacturing industries, transportation
industries, information technology industries and many more.