Empower consumers and agents: The new basis of the insurance competition [Download].

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Meeting changing customer expectations is a challenge across all industries. The opportunities created by digital technology and the threats posed by innovative companies require companies to improve their capabilities in terms of how and when they serve prospects, customers and dealers.

Click here to download the full Vantage report.

Insurance is no exception. However, the risk-averse culture and outdated infrastructure found in most established businesses pose particular challenges. The “why” they need to change is known, but the “what” and “how” are less clear.

To quantitatively analyze these questions, Tekk.tv Vantage surveyed 300 C-Level insurance executives about the current and future state of customer engagement in their organizations. An analysis of the results suggests actions that can be taken to create short-term business value, as well as strategies for the mid-term future.

The respondents were 300 C-Level insurance executives, evenly distributed across Asia, EMEA and North America. Entries were received from all major lines of business, with the majority coming from life and pensions (45%) and health insurance (33%). These executives represented a variety of functions within their companies, with the largest groups being in claims, operations, corporate management and business unit management. Nearly half of the insurers represented wrote gross written premiums (GWP) of between USD 100 million and USD 499 million annually, and another 25% wrote between USD 500 million and USD 999 million.

This group of survey participants offers valuable perspectives on how insurance managers view their customers, how their companies are responding to rising expectations, and what priorities they are setting for the future.

Click here to download the full Vantage report.
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