Opportunity Knocks in Asia
Mr Peter Williams from Red Planet Software says they are expanding into Asian markets with cloud-based solutions for the financial sector. He also explains why Asian businesses can benefit from their commercial insurance premium funding software solutions.
Natural disasters (floods, tsunamis, fires, earthquakes), increases in operating expenses and rising costs in claims have all had a significant impact on increasing insurance premiums over recent years. Existing customers are starting to question the value of insurance and opt to shop around in search of better and more affordable solutions before renewing policies.
The internet has opened up global competition, bringing web-based providers into the marketplace which enables people to compare offers before committing to buy services or move to an alternative provider. It seems to be getting harder for insurance companies to differentiate themselves from the competition and to retain current customers.
I am however pleased to say that Australian-based Red Planet Software is helping many to stay ahead in the game by enabling insurers, brokers, underwriters, banks and funding providers to offer flexible, innovation and time-saving pay-by-the-month solutions.
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