Digitalization in insurance

Customer insights that matter

The COVID-19 pandemic has shifted lifestyles, demands and expectations of customers drastically. In the generation of disruption, customers have access to overwhelming amounts of information and choices. While companies across industries have accelerated digital adoption, are insurers meeting the ever-changing demands from customers? Leveraging the consumer insights from the Hong Kong SAR Insurance Perception and Behaviour Survey conducted by OneDegree, this report provides an overview of emerging consumer behaviour trends, what market pioneers are doing to shape the industry, and the calls to action for insurers.

Reimagining the Insurance Value Chain from Customer Perspective

  1. Products:
    The demand for flexible products are on the rise, and accelerated by COVID-19. Products with flexible coverage and payment terms are gaining prominence.
  2. Distribution Channel:
    Consumers are embracing digital channels for convenience and value transparency. As product catalogues are shifting online, customers are empowered to perform premium comparisons with ease, facilitating more product selection.
  3. Customer Engagement:
    Customer stickiness to an insurer is commonly affected by premium driven behavior and level of price transparency.
  4. Operational Efficiency:
    Through analyzing internal and external customer data and behaviors, insurers can achieve a high percentage of straight-through processing and effectively triage and identify potential frauds and trends. Achieving operational efficiency is the key to unlocking to lower premium.


DTT China Contact Points:


Louis Lee
Partner, Actuarial and Insurance Solutions



Florence Ngan
Manager, Actuarial and Insurance Solutions


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