To stand out in today’s insurance marketplace, carriers need to pivot from being product and distribution focused to being customer centric as it is a digital and mobile first economy.
People are increasingly expecting insurers to be available on their terms, and they expect digital to be the enabler. Customers expect a faster, transparent, and more intuitive experience than they have ever had before.
From delivering information through the right channel based on selected preferences, a digital first mindset can support carriers, their distribution network, staff and customers when, where and how they want to engage.
In today’s highly competitive marketplace, where choice is abundant, and disruption is around the corner there needs to be a digital first mindset.
Success depends on the latest innovations in digital, data, AI, cloud, mobile, and social – and a whole new way of thinking and executing in today’s market.
As other industries have optimized customer experience, expectations have risen across the board. Customers expect the same levels of digital connection and personalization from their insurer as they receive everywhere else.
Historically, carriers have relied heavily on namely agents and brokers. While these intermediaries are not going away, offering a seamless experience across channels is increasing exponentially in importance. The key strategy is to determine how, direct, agent and broker channels can work together to create a seamless and productive experience for both the carrier and the customer.
The companies that can do this best will increase customer retention, lifetime value and profitability, as well as decrease their overall costs.
The carrier and agent/broker marketplace need to be willing to open up their business and think in an innovative way as it’s a buyer’s market in almost every industry today and the insurance market is ripe for a digital and mobile first mindset.
A few of the areas we help you lean-in to…