To outsiders, insurance can seem a somewhat staid industry. But while that might have been true even a decade ago, the rush to digitisation has made insurance one of the most innovatively exciting places to be. Since 2016, many of the best projects have gone head-to-head at the annual Efma-Accenture Innovation in Insurance Awards, which…
The World Health Organization declared COVID-19 a global pandemic nearly a year ago. Since then, efforts to slow the spread of the virus have caused seismic shifts for insurers and their customers. In many ways, the world will never be the same. And for insurers, there was much that had to be learned along the…
Insurance agents play a key role in the insurance business. Integrating four dimensions—partner, growth seeker, collaborator and entrepreneur—they provide a personalized experience for customers and are excited to expand the business into new markets. In North America, Accenture research found that investments in customer experience and distribution innovations offer the highest return on investment. That’s why we recommend insurers focus on investing in innovations that will enable agents to do their best across the…
The future of insurance distribution has been hotly debated in our industry for decades. Bold predictions several years ago prematurely declared the “death of the agency model” to be largely replaced by direct (and then digital direct) distribution. The prevailing view is that customers should be enabled to interact in their channel of choice and…
