深度-Capgemini-2021年全球保险报告（英文）-2021.6-40页_5mb

World Insurance Report 2021 Summary

Core Content

The World Insurance Report 2021 highlights the transformation of insurance distribution channels in response to the CARE equation – Convenience, Advice, and Reach. The report underscores the impact of the pandemic on the insurance industry, emphasizing the need for innovation, technology integration, and customer-centric strategies to adapt to new distribution realities.

Main Points and Key Insights

1. Impact of the Pandemic on Distribution

• Prolonged lockdowns and social distancing have accelerated the adoption of digital channels.
• Over 60% of insurers reported that customer acquisition was affected by the pandemic.
• Around 40% of insurers said customer retention was similarly impacted.
• Insurers are now exploring technology solutions to enhance engagement, create WOW-factor experiences, and improve customer CARE.

2. The CARE Equation

• Convenience: Digital channels (websites, mobile apps) are preferred for 24/7 access, ease of use, and search capabilities.
• Advice: Customers trust agents and brokers for personalized, expert advice, especially for complex products like retirement plans, annuities, and commercial lines.
• Reach: While digital channels are increasingly used, 30%+ of customers still rely on them for research and purchase, especially SMBs.

3. Digi-Intermediation

• The report introduces the concept of digi-intermediation, where digital and direct channels work in synergy.
• Digi-intermediation enables seamless, hyper-personalized customer experiences.
• It helps insurers enhance CX, fill distribution gaps, and maximize delivered value.

4. Customer Behavior and Preferences

• Personal lines customers prefer digital channels for convenience, followed by direct channels and price-comparison sites.
• Commercial lines customers (including SMBs) are more open to digital for research and purchase.
• Millennials and Gen Z require more pre-purchase advice due to lower insurance literacy.
• The ROPO effect (Research Online, Purchase Offline) is evident in insurance, with customers researching online and purchasing offline.

5. Role of Technology in Enhancing Distribution

• Digital tools (chatbots, marketing automation, digital CRM) help agents and brokers:
  • Scale operations by reaching customers through preferred engagement modes.
  • Focus on core strengths like personalized advice.
• However, many agents and brokers find these tools ineffective due to poor data quality or lack of integration.
• AI and APIs are critical for enabling personalized advice and streamlining customer interactions.

6. Challenges and Opportunities

• Agents and brokers need 360-degree customer data, self-service tools, and robo-advisors to deliver superior customer experience.
• Insurers must provide digital collaboration tools to support agents and brokers in their trusted advisor role.
• Customer trust is still heavily placed in human advisors, but digital tools can augment their capabilities and enhance efficiency.

Key Recommendations

• Insurers should retool digital channels to deliver hyper-personalized advice and convenience.
• Omnichannel platforms are essential to provide seamless customer experiences.
• Digi-intermediation should be a strategic focus to combine digital and human capabilities.
• Invest in advanced data analytics and AI-based tools to empower agents and brokers with real-time insights.
• Improve digital engagement tools to support self-service and reduce post-sales workload.
• Adopt an Open Insurer mindset to embed insurance services into customers' daily lives.

Future Outlook

• The future of insurance will be defined by phygital models (physical + digital).
• Technology will play a key role in enhancing efficiency, revenue, and customer satisfaction.
• Insurers must evolve their distribution strategies to meet changing customer expectations and stay competitive.

Conclusion

The World Insurance Report 2021 emphasizes the need for innovation in distribution, especially through digi-intermediation and technology integration. The CARE equation remains central to customer acquisition and retention, and insurers must adapt their channels and capabilities to deliver personalized, convenient, and accessible insurance experiences.