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Developing new channel strategies and business models
Overview
Like most other sectors, insurance companies and mutuals have been badly affected by the sub-prime crisis and the subsequent global economic downturn. Some of their investment funds have been less secure than others. With consumers having difficulties in obtaining mortgages and loans, they are also selling fewer home and car insurance policies.
Last year’s conference attracted over 100 participants from 20 countries. This year’s event will continue to focus on the many different challenges facing the industry. The third edition of the ‘World Insurance Report’ will also be presented at the conference.
Key issues
A wide range of issues that affect the insurance market will be explored, including:
• Multichannel distribution - Most insurance companies sell their products (both life and non-life) through many different distribution channels. What are the key factors and challenges involved in developing a successful multichannel strategy? How can traditional distribution networks be integrated into a multi-network model?
• Using the Internet – How can insurers use the Internet effectively to sell more complex products and therefore increase their revenues? How can this channel be used to manage the customer experience and to develop closer relationships with customers?
• New business models – Where are the new growth opportunities for insurance companies? Are we seeing the end of the traditional life and pension model? What new strategies can insurance companies develop to adapt to fluctuating markets and economic conditions and how can they meet customer changing needs? Do existing business models need to change as well?
- REPORT
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World Insurance Report 2009
Now in its third year, the World Insurance Report 2009 from Capgemini and Efma will focus on the theme of multi-distribution. Building on the findings from the 2008 report that insurers can increase market access and share of wallet through multi-distribution, this year’s report will investigate the capabilities being developed and strategies that leading insurers are adopting to achieve success in multi-distribution.
Based on research covering 60 interviews with senior executives from leading global insures and over 2,100 distributors surveys, the World Insurance Report 2009 draws data covering 17 countries: Austria, Australia, Belgium, Denmark, France, Germany, India, Italy, Japan, the Netherlands, Norway, Poland, Portugal, Spain, Switzerland the U.K., and the U.S.
The report assesses insurance companies’ multi-distribution maturity, investigates key multi-distribution challenges, highlights leading practice, and proposes approaches to overcome these challenges. The World Insurance Report 2009 will bring further insight and thought leadership to one of the most important strategic issues facing insurance sector today.
