Know your customer 2.0 – Building a value-added data model for the insurance world
This white paper describes how insurance companies can use customer insights to provide their customers with a tailored offering and thus capture new market share.
The whitepaper is available in German.
Summary
New information and communication technologies as well as exponentially increasing data availability, computing power and storage capacities are driving the digital transformation in insurance. Customers and sales partners are increasingly digital, autonomous and demanding. New market players are using digital technologies to enter the market. Industry boundaries are merging into digital ecosystems.
Due to the massive restrictions resulting from the COVID-19 pandemic, numerous companies are forced to digitize their processes and move existing service offerings into new channels.
This unique “digitization push” is having a particularly significant impact on customer relationships because, after all, customer behavior is increasingly shaped by the availability of digital services. However, even beyond the horizon of the crisis, the aim is to increasingly acquire and retain customers online and win them over as positive brand ambassadors.
New technologies are permanently changing customer behavior. This requires a rapid response in the development of digital services as well as in their results-oriented use in interaction with customers. In order to identify challenges and opportunities presented by technologies, insurers must therefore actively address the expectations and usage behavior of their customers.
