Executive summary
Life insurance and pension providers are aware that they are playing catch-up in terms of providing consistent, positive, and efficient customer experiences. Modern consumers are rapidly embracing digital engagement in other areas of their personal lives, such as retail, travel planning, and healthcare. They also see the value of pension/financial planning to enable their current needs and future aspirations. However, many providers lack the requisite capabilities to capitalise on these opportunities.
New approach to realise ROI
In an attempt to close this gap, providers are starting to invest in their digital propositions, but with mixed results. The expectation is that digital will improve experiences and customer engagement, thereby contributing to revenue growth while also reducing the costs of service. Yet, achieving measurable results from digital investments continues to prove elusive. To change the equation, life insurance and pension providers require a combination of analysis/insights, business model re-engineering, and meaningful performance measurement, leveraging a modern digital ecosystem to drive adoption.
In this white paper, we discuss strategies to accomplish this.
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