Thought Leadership
Changing customer patterns offer insurer's new growth opportunities.
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World Insurance Report - Spotlight on India/China 2008
Spotlight on Developing Markets: India and China
Conclusions from the 2008 World Insurance Report
Findings from the report survey of more than 11,000 customers spanning ten countries and interviews with industry executives in thirteen countries support three imperatives for Insurers to address. What’s today’s bottom line for Insurers?
- Insurers must manage the business impact of changing market dynamics. In particular they need to understand when to drive market evolution and even when to encourage certain volatile behaviors. Gauging value/volatility factors means insurers can define strategy more clearly.
- Insurers should take a more assertive role in the interplay with and among customers and networks. More proactive interactions with and among networks and customers and working to differentiate brand and reputation will improve results. Optimizing customer profitability means maximizing network use by segments and properly monitoring customer and network value.
- Embrace IT as both a prerequisite and a lever to overcome challenges. Three areas in IT can help: Enterprise data warehouses, analytics, and customer intelligence segmentation can enhance customer knowledge and hone behavioral-driven customer segmentation. Technology and SOAs could allow insurers to adapt and change their distribution capabilities according to market dynamics.
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To learn more about what Insurance customers had to say, download the entire World Insurance Report.
Contact Us
To discuss the findings of the World Insurance Report and learn how customer volatility can impact you, contact us at insurance@capgemini.com.
