New world, new customers, new solutions | Insurance Trends 2019 | Deloitte UK

In a new world with new customers expecting new solutions, how are insurers meeting new requirements?

In an age of disruption, insurers clearly understand that their customer proposition needs to change and adapt to new demands in a digital era. Nearly half of the C-suite insurance executives we spoke to felt that changing customer needs would be the top challenge for the next three years.

The insurance sector is changing and this in part due to increasing and changing customer demands. This has led to the consumers being an important factor of growth within the industry.

There is now a new world that insurance firms need to compete in, from persistently low-interest rates to new technology in the insurance industry, as well as the threat of new entrants who are enabling lower operating costs, all of which have contributed to the need for new and more flexible ways of interacting with customers.

In chapter one we explore why insurers should be offering new products and solutions such as non-insurance products, ensuring friendly and knowledgeable staff are always on hand and finding new ways of working as ways to interact, attract and retain customers.

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Contacts

Andrew Warren

Advisory Insurance Sector Leader

+27 11 202 7423

Email Andrew View profile

Ashish Desai

Director, Consulting

+27 11 517 4309

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Dr Tracy Dunbar

Associate Director, Risk Advisory

+27 82 334 8582

Email Tracy View profile



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