May 23, 2018 09:45
Photo : Freepik
More than one-quarter (29.5 per cent) of consumers are willing to buy insurance products from Web giants such as Google and Amazon , in particular because of the poor customer service, indicates the edition 2018 of the World Insurance Report from Capgemini and Efma. It is a leap of 12 points since 2015, while 17.5% of the consumers indicated that they would subscribe an insurance product from these firms.
The people from the Y generation and those talented in computing are more likely to leave their insurer traditional, citing less than positive experiences with the firms traditional. They are also the most likely to change their insurance provider within a year and more open to procure insurance products of major technology firms, according to the survey.
A gradual influx
Capgemini says that the giants of the Web slow-establishing their presence on the market by using their strong reputation for superior customer service. Less than 26 % of consumers aged 18 to 34 surveyed said they had had a positive experience with their insurer, while 32 % say they have had a positive experience with their bank.
«The use of the data, and offer a real digital experience for the consumer, is critical to the future of insurers, what the Web giants like Google and Amazon excellent. The threat of these players is even more true that what the insurance industry admits that, » says Anirban Bose, head of financial services and member of the board of directors at Capgemini.
«The insurers, of nature to assess the risks, need to do some introspection and consider the competitive risks within their industry, to evolve and survive. «
The consumer loan offers customized
While new technologies are bringing innovative services and value-added, 46 % of consumers endowed with technology and 38 % of generation Y say they want to receive insurance offers proactive and personalized through various channels, «which could lead to the development of new sources of revenue,» the report says. In addition, 65 % of the respondents indicated that a more personalized customer experience end-to-end is one of their most important needs.
More and more consumers from all age segments now consider digital communications to the same level as those from traditional channels, » says the survey. More than half of the respondents attach great value to the Web sites of the insurers to complete their transaction. More than 40 % believe that mobile apps are also an important channel.
Numerical models for last
The authors of the report suggest the insurers to invest in their digital capacity to develop operational models aimed to provide a better customer experience by combining the strengths of digital and traditional.
Furthermore, the survey demonstrates that in order to offer a personalized experience which is waiting for the consumer, insurers will need to have an ecosystem integrated computer connected with other insurers and providers with information sharing and effective.
«An ecosystem integrated digital can support personalized services and in real time, consumers expect and demand more. With agility digital improved, insurers can increase their knowledge of the needs of customers and improve the launch time of innovation, while boosting operational efficiency and reducing costs, » concludes Capgemini.