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Man receiving a payment on his phone. In one survey, 42% of consumers said they would be more likely to stay with an insurance provider that pays approved claims within minutes. (Photo: Shutterstock.com)

As the insurance industry defines what a competitive advantage looks like in a post-COVID world, insurers must move digital strategies to a top-level priority to differentiate themselves in the market’s “new normal.” Along with digital shopping experiences, claim processes — especially payment — will be central to these strategies.

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