Cognitive computing holds promise for life insurance customer service

It's never been more important for life insurers to offer their policyholders high-quality service. Digitisation and intensified competition with other financial service verticals have blunted prospects for growth and made customer acquisition and retention ever more challenging. Meanwhile, consumers' overall service expectations continue to rise as retailers in other industries set a higher bar. Insurers have struggled to keep up because of the inherent complexity of both their products and their systems' environments. Bringing cognitive computing to customer service will allow insurers to move past these challenges and deliver a level of digital service comparable to that of any other industry.