As the insurance industry changes, marketing and distribution are among the areas most directly affected. So it should come as no surprise that more than four out of five respondents in Accenture’s 2014 Insurance CMO Insights survey believed that marketing will undergo a fundamental change over the next five years.
What’s driving this change? The top three drivers of change are:
- Analytics: 43 percent say analytics will become a core competence of marketing.
- Digital: 37 percent say digital will account for over 75 percent of the marketing budget.
- Mobile: 41 percent say mobile will account for over 50 percent of the marketing budget.
High-growth insurers, in particular, say their investments in these three areas are paying off, especially in terms of enhancing the customer experience.
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