When Digital changes the way insurance works
Digital has already changed the rules of the game in the insurance marketplace, and is expected to create additional disrupting over the next few years. Despite its specificities, the Luxembourg market is also impacted by digital trends in various ways.
From customer experience to operational excellence, the effects of digital can be seen everywhere
The most straightforward example is linked to internet transactions, with customers now able to perform transactions directly online. The main objective for insurers is to create the maximum possible number of touchpoints with customers to increase interactivity. The sales process is already well-supported overall, with customers able to subscribe online. There are differences between insurers in the areas of selfservice and after-sales support, such as online claims submission and tracking. On the local market, insurers are continuing to give preference to the brokerage network for quotes and subscriptions, despite demand for mobile apps supporting sales activities (e.g. 360° review or white labelling). However, some local players will soon be releasing one-stop-shop mobile apps for claims management along the lines of what is existing in in France and Belgium. These apps allow customers to take pictures of damage to their car, answer a basic Yes/No questionnaire and even add a voice message when submitting a claim.
Inside magazine issue 6, October 2014
Inside is Deloitte’s quarterly magazine offering an exclusive insight into best practices, trends and opportunities faced by our clients across all industries.
Inside focuses on the main hot topics relevant for the market (Asset management, Banking, Insurance, Public sector, Healthcare, Private equity, Real estate, TMT, Manufacturing and consumer business, Transport and logistics).