The omni-channel insurance model comes of age in China
Editorial by Hugh Terry
In this edition of China in Focus, in partnership with iptiQ by Swiss Re, we look at how digital innovation in China is accelerating the adoption of an omni-channel model in insurance.
- Our in-depth article looks at how research from Accenture revealed as far back as 2019 that consumers were attracted to the benefits of an omni-channel approach, whereby the advisor becomes the personal hub of all communications between the consumer and insurer, even for actions initially generated by AI. And with human at the core of the omni model we look at how Chinese insurers are investing heavily in developing omni solutions to bring their channels together, while they remain in the shadow of large tech companies with already well integrated platforms that could disrupt their business models.
- With consumer adoption of digital meaning a sales process that operates on purely a face-to-face basis is already outdated, TDI’s Point of View article in this edition suggests a unique opportunity exists for proactive insurers to seize the moment and offer customers a blended omni approach to interactions with them. The article defines omni, and asks if now is the right time to transform what should you do as an incumbent or digital first ecosystem provider?
- Finally, scroll down for our Spotlight articles, where we analyse and present video on innovators Infobird, WeSure and Investec Life, to find out how they are building an omni presence, including a video interview with Investec Life’s CEO Michael Goemans.
As always, enjoy the edition.
Founder, The Digital Insurer
Digital development in China is proving how powerful the omni-channel model is, as it underpins the evolution of the traditional insurance advisor in the region.
Consumer adoption of technology is advancing rapidly, and the typical consumer is no longer tolerant of a sales process that only operates on a face-to-face basis.
Infobird provides artificial intelligence powered omni-channel Customer Management Solutions. It listed in the US in April 2021.