Archive

At a glance: The ways businesses market to their potential audiences is rapidly changing as more consumers choose to operate within the digital environment Insurers in particular are using livestreaming to attract customers to their channels. But there are lessons for Chinese insurers among a new digital marketing strategy that has captured the minds of […]

As digital insurance platforms gain more traction among the Chinese population, insurers are looking for new ways to bring people through the door. Livestreaming is becoming rapidly established as the new way to engage with a customer base. Though a direct to consumer form of engagement, agents still have a role to play. However, increasingly, […]

KEY POINTS Drawing on frameworks identified by Oliver Wyman and Accenture we present a framework for distribution of health insurance in a digital world Insurers are increasingly looking at partnerships as a solution to integrate their services into ecosystems and improve customer experience Insurers are looking to have interventions with customers long before a claim […]

KEY POINTS As digital adoption accelerates across industries, insurers need to shift their mindset to focus on customer lifetime value (CLV) in order to sustain profitable businesses Successful platform-based companies outside of insurance are already using CLV methodology to drive growth and boost the valuations of their businesses CLV can be applied in insurance to […]

Customer Lifetime Value (CLV) is a powerful tool that insurers are beginning to get to grips with. Making it the central plank of an insurer’s culture will greatly assist in moving from the old fashioned one point of contact a year model, to the multi-touchpoint environment offered by digital businesses. Like all models, it has […]

This in-depth article will explore the partnerships that underpin digital ecosystems, what has worked and how insurers and startups should prepare for this era. Digital ecosystems are tipped to be the model of the digitalised insurance world. They offer incumbents an insight into what needs to change in their business for them to achieve evolution instead […]

This month China in Focus looks at digital ecosystems in-depth here, we decided to pull together some additional materials found across The Digital insurer and externally for those wishing to deep dive further on the subject and gain additional perspectives. The first is Increased Customer Intimacy & Digital Ecosystems by Dr Peter Weill. In this paper, Weill […]

Artificial intelligence (AI) and machine learning (ML) technologies offer exciting and far-reaching potential for insurers to improve operational processes within an insurer’s business, and allow for the creation of completely new business models. This article will examine AI initiatives across the spectrum of product development, customer acquisition, underwriting, policy management, and claims and look at: […]

It has long been said about economic performance that when the United States sneezes, we all catch a cold. Yet it might be said, that when China gets sick, other parts of the world face a potential epidemic. It is perhaps fitting, though unfortunate, that in the digital age, this illness has gone literally viral […]

Pet insurance has been available in China since around 2004. However, low demand, a small market and relatively small bills, meant it never really gained much of a foothold. As a result, It has been an often-overlooked sector within digital insurance. Pet City medical Insurance 365 product was launched in 2017. It is more than […]