Kennedy names Deloitte a global leader in insurance sector optimization and customer experience consulting
New York, New York, 9 December 2013 – Deloitte Touche Tohmatsu Limited (DTTL) is pleased to announce that Kennedy has named Deloitte a global leader in insurance sector optimization and customer experience consulting based on their recently released report entitled, Consulting to the Insurance Sector: Optimization and the Customer Experience.
The report calls this a golden age for insurance. Technology is allowing insurance companies to realize great cost savings in the back office while data – both internal and external – is enabling much more accurate risk assessments, giving insurance companies the ability to compete on price. Channel opportunities are multiplying fast. End-user customers more so than ever are studying insurance products and increasingly make informed decisions. They are also multiplying quickly in Asia with the rise of the middle class – not only in China but in other very populous countries such as Indonesia, Malaysia, and Vietnam. Hundreds of millions of new customers are coming online every year, making life insurance in particular one of the hot growth areas in Asia’s burgeoning economies. And some see Latin America as the next great insurance boom region.
The report lays out the opportunities and challenges for buyers and sellers of consulting in the global financial services marketplace, focusing on key trends, growth patterns, the competitive ecosystem, and include profiles of select key firms. The report notes, “Deloitte has elevated sales and marketing strategy to new levels, incorporating customer analytics, brand management, distribution strategy, consumer protection, risk, consumer technology and regulatory compliance into a broader insurance client customer experience strategy.”
“In a report that highlights the abundance of opportunities for both the insurers and those that work with them, we are very proud that Kennedy acknowledged Deloitte as the global leader” said Neal Baumann, Global Insurance, Deloitte Consulting LLP in the United States, “we have worked and invested to build a strong global insurance team and are proud to have it recognized in the marketplace.”
- Deloitte named a Kennedy Vanguard Leader based on breadth and depth of capabilities
- “A Deloitte specialty is finance transformation, which is key for helping insurance companies manage costs to help keep pricing low.”
- “Deloitte’s clients are the largest insurance companies in the world, which have the most to invest in channel strategies and abstract thinking about their customers’ experience. But they also have to deal with the most complexity and the greatest brand risks.”
- “Deloitte’s insurance practices are geared to address clients’ needs for the full length of their insurance value chain, and on a global scale. It is one of the few service providers that can address both the front-end customer experience as well as core operations impacting customers via firm performance. In particular, Deloitte has been championing development of in-house sales on the carrier side as a key component to a channel strategy.”
- “More so than most service providers, Deloitte attempts to approach the insurance market holistically, relying on its audit, tax and enterprise risk services as much as its consulting to support corporate strategy, business model transformation, finance transformation, PMI, and geographic expansion for insurance clients.”
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Deloitte provides audit, tax, consulting, and financial advisory services to public and private clients spanning multiple industries. With a globally connected network of member firms in more than 150 countries, Deloitte brings world-class capabilities and high-quality service to clients, delivering the insights they need to address their most complex business challenges. Deloitte has in the region of 200,000 professionals, all committed to becoming the standard of excellence.