Digitisation of intermediated insurance distribution – Roland Berger
Article Synopsis :
This report from Roland Berger and Efma looks at the digitisation of intermediary based insurance models in Europe. The report makes the following observations
- Insurers and distributors needs to adapt to new “hybrid” customer behaviours
- Digital lead sourcing is an emerging practice – further innovation can be expected
- A strong rise in the use of the internet for servicing is expected (from a low base currently)
- Recognition of email marketing as a key priority
- The rising use of social media and analytics
- The need to update and invest in new IT infrastructure and skills to take advantage of the digital transformation
- Building an operating model comprised of a multi-skilled team, a front –to-back process re-engineering, adaptation of the distribution model and investment in IT capabilities
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Digital Insurer's Comments
Insurers need to develop a coherent strategy and execution plan to help transform face-to-face based distribution models.This analysis is in line with the Digital Advisor business model that The digital insurer advocates (read article)
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