Recent Accenture research reveals that many insurers are accelerating their shift to distribution models where digital plays a crucial disruptive role. For the Distribution and Agency Management Survey we surveyed more than 400 senior distribution executives across the globe, with one-quarter of respondents in North America. The report highlights six key areas of focus for insurers. Over the course of this blog series, I’ll look at each one individually.
Channel digitization: Shifting roles
Accenture research reveals a continued push toward digital insurance distribution, whether for sales advice and quoting, an end-to-end sales process or customer service. Across personal lines, small commercial lines and life insurance, we noted plans to continue to expand digital offerings over the next three years.
We also noted that 58 percent place high importance on directing customers to the optimal channel for a sale. This is as much about customer preferences as it is about economics, increasing the likelihood of a sale and optimizing acquisition costs.
Join me next week as I look at the second area of focus for insurers: insight-driven customer experiences.
- Register to download Reimagining insurance distribution: Distribution and Agency Management Survey (PDF).
- Email me to discuss how Accenture can help you digitize your insurance distribution channels.