Posted on October 29, 2014 by Erik J. Sandquist
Historically, insurance companies have sought to create robust profiles of their customers for better pricing and risk selection. In today’s world, social media networks such as Facebook, Twitter, LinkedIn and others provide a rich dataset for insurers to better understand insurance consumers, their behavior, and the things they own or use.
Accenture research gives us some additional context aroun . . .
Posted on October 29, 2014 by Thomas Meyer
Globally, most insurance customers are satisfied with their providers—but some customers are more satisfied than others.
Last week, I introduced the Accenture Claims Customer Survey. Globally, we found that 93 percent of respondents were satisfied with their insurance providers.
Of the nearly 8,000 customers we surveyed, 40 percent had filed a claim within the past two years. Of these respondents, . . .
Posted on October 29, 2014 by Cindy De Armond
As discussed in my previous post, product innovation is a critical component of stability and smart growth. Many insurers, however, approach this essential capability as a sprint, focusing all their energy towards making a quick impact on the market. While sprints are useful for reaching short-term goals, they are not sustainable over time. As a result, insurers that adopt this “sprint mentality” . . .
Posted on October 28, 2014 by Darcy Dague
As part of an Accenture survey of nearly 8,000 insurance policyholders worldwide, we found that 93 percent of respondents said they were satisfied with their insurance providers.
Of the customers we surveyed, 40 percent had filed a claim within the past two years. We asked claimers how satisfied they were with the process. Globally, 87 percent of auto claimers and 84 percent of home claimers were . . .
Posted on October 28, 2014 by Jean-François Gasc
Insurers adopting this business model create an entirely new digital business, while leaving their existing one largely untouched.
In this final blog on the four digital business models or archetypes, I’ll look at the Hybrid model. Companies adopting this strategy neatly side-step some of the difficulties—and they are considerable—of making a transition from the traditional business model to a di . . .