Insurance Trend #6: Beyond boundaries 11 March 2021

Insurers understand that they can no longer operate in isolation if they want to reach their full potential and maximize their opportunities in the market. Instead, they must embrace today’s ecosystem-driven digital economy to access new customer pools, create new revenue streams, embed their brands deeper into customers’ everyday lives and deliver richer customer experiences.
We identified three awards candidates that are driving ecosystems strategies that could position them as market disruptors in the years to come. They are using digital platforms and networked systems to offer customers a wider, more relevant and appealing set of offerings and experiences in conjunction with ecosystem partners.

Zurich Connect (Italy)

Homeflix is a mobile-first offering complemented by Flix, a virtual assistant that helps with more than just insurance services. The home insurance product is modular, fully configurable and affordable. With just a few clicks, the customer takes control of everything from purchasing their policies to filing a claim and requesting various other services unrelated to insurance. Flix can be used to arrange tasks such as laundry services or wine delivery – covering many home-related needs. It also includes rewards from partners and gamification.

Allianz Partners (US)

As part of its vision to evolve from travel insurance to a travel protection company, Allianz transformed its app into an ecosystem of services combining internal services and external API integrations for proactive geolocated safety and security alerts. Allianz Travel app acts as a single source of information whether it is regarding the local hospitals, emergency numbers, or assistance services. The geolocated safety and security alerts go even further, delivering the information to the travelers in a proactive manner.

Energetic Insurance (US)

Energetic Insurance is offering credit insurance for commercial solar projects, designed to protect developers against potential payment default from businesses signing on to commercial or industrial projects. Its flagship product, EneRate Credit Cover, unlocks solar project financing for unrated and below-investment-grade counterparties.

To read more, download your free copy of 'Innovation in insurance trends 2020: Realigning the fundamentals after COVID-19'

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