These technologies change enterprise and customer’s engagement

Technologies take advantage of today’s enterprises to enhance their customer engagement

technology

These technologies change enterprise and customer’s engagement. Source: shutterstock.com

According to GlobalData, smart wearables are redefining the way brands communicate with their customers using digital technologies such as the IoT.

The maturing wearable tech ecosystem coupled with the availability of smart devices has led enterprises to glean actionable insights and replace traditional customer touchpoints. From simple tasks such as providing location-based ads to creating tap-and-go payments, the use cases of wearable devices are expanding across industries such as insurance, banking, travel & tourism, and oil & gas
Venkata Naveen, Disruptive Tech Analyst at GlobalData

The report states that wearable devices give insurance companies a more comprehensive picture of patient risks. That helps them with accurate underwriting and offer discounts on premiums. For instance, UnitedHealthcare rewards its customers up to $1,500 a year in healthcare credits for different types of fitness activities completed on Fitbit’s Charge 2 device.

As to the financial institutions, they are adjusting and digitizing in-branch operations thus meeting the needs of the tech-savvy customer. This way, HSBC staff are using custom-made Samsung Gear S3 smartwatches to improve customer experiences at its flagship retail bank in Manhattan.

Along with that, hotels are using wearable technology to offer contactless stay experience for the customers. For example, Germany’s TUI Group has launched a smart band that can be used as a digital key for unlocking hotel doors, bypassing the front desk, etc. It can also control a room’s lighting and environment and help guests to pay amenities using NFC technology.

Oil & gas firms are integrating multiple mobile payment options and enhance customer experience on-the-go. ExxonMobil customers can use a smartwatch to pay using Samsung Pay, Apple Pay, or by linking their cards without leaving their vehicles.

We’ve reported that the annual revenue of integrated fitness clothing will grow form nearly $1 billion in 2020 to $11 billion in 2025.

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