"You can do brilliant things with culture, brilliant things with technology but if you aren't thinking about the customer in a different way, you aren't going to be successful" says Scott Paton. Insurers need to focus their efforts on transforming beyond being a ‘grudge purchase’ and instead become a partner who can protect what’s most valuable to customers’ throughout their life.
And they need to focus now. Eighty-one per cent of insurers we spoke to believe they have less than five years to act before it's too late.
We foresee a future of insurance that is based on ingenious new platform economies, which are all about the customer, their world and facilitating a broader set of services at their time of need. Or what we call ‘insurance-as-a-service’.
Did you know?