For many years, the insurance 这一领域的发展一直是出了名的缓慢. 客户认为保险公司很难做生意, 而保险公司认为没有必要改变. 产品在很大程度上已经商品化. To “win,” many insurers had to form stronger relationships with brokers than customers to get a bigger piece of the pie, while sufficiently maintaining these key relationships to promote positive risk selection and maintain profitability.
What has changed in P&C insurance?
在过去的五到十年里, 保险公司达到了一个临界点，根本的改变是不可避免的. 遗留的策略管理平台正在老化，不再被支持, which exposed the sector to increased risk; insurers could no longer ignore the need for updated technology. Although the motivation for this transformation was to stabilize the business for continuity purposes, modernizing technology offered ancillary benefits in the hopes of creating more nimble and efficient organizations, 支持以客户为中心的文化, 并在全bet9app范围内加快迟到的创新和变革的步伐.
最明显的变化是保险公司服务客户的方式. Customers can now interact with insurers in ways that they hadn’t been able to do in the past. 数字报价现在在运营商中几乎无处不在, 经纪人和聚合商也在不断发展，以实现数字化购买, 尽管这在加拿大还处于起步阶段. Moreover, insurers are beginning to offer customers the ability to service their policies online or through their mobile apps. Perhaps the most significant changes are emerging out of claims groups that are now starting to offer a complete end-to-end digital experience, 我们将在本系列的第三部分详细说明哪些内容.
保险公司在这场游戏中姗姗来迟, but they are beginning to meet the minimum expectations of customers in an ever-increasing digital world. 尽管许多大型平台的实现已经完成或正在进行中, we’ve only reached the tip of the iceberg since many of these implementations are still going through growing pains for myriad reasons, such as:
- 在这个时代，大规模的项目已经被描绘出来 最小可行产品 使核心系统起飞并满足时间和预算的限制.
- Add-on technologies such as CRM and/or specific Insurtech products that will unlock benefits by integrating with core systems but were not included in the initial business case and require their own independent cases to get off the ground. In many cases, these have stalled or have their own long-term implementation time-horizon.
- Insurers continue to adapt their long-standing processes to new ones to meet the out-of-the-box configuration offered by vendors or pre-configured cloud-based system integrators.
- 从传统平台向现代平台的转变具有挑战性. Moreover, converting policies from old to new is not without errors and inefficiencies when teams must work in two separate technology environments.
So, what’s next? 考虑到实现的不同状态，保险公司将从这里走向何方? 未来几年保险公司会是什么样子? We’ll try to answer these questions in a three-part series of articles that take us through the insurance customer journey. Our first article will begin with how distribution and service are evolving and keeping pace with customer expectations.
Insurer distribution models are evolving in real-time as insurers continue to consider their relationships with brokers, and to a lesser degree, aggregators. That said, any conversation about distribution needs to separate Personal from Commercial Insurance.
On the Personal side, 多年来，人们一直在预测经纪人的消亡, figuring that consumers would flock to digital direct insurers or use aggregators as a broker substitute to receive multiple quotes concurrently. 问题在于完成购买的能力, as mentioned above, is very new in Canada. As of today, very few insurers offer the ability to purchase a policy online. Most notably, Economical made a substantial investment into Sonnet as part of its strategy to demutualize. However, other incumbents have struggled to change to a direct purchase business model, as uncertainty still exists over Canadians’ appetite to bind a policy online without confirmation or advice from an expert first.
While new entrants, like Onlia, 并没有在这个模式中挣扎, 他们是非常稀少的. They are arguably set up for growth to capture a market segment that’s used to the immediacy of purchase and doesn’t have incumbents’ legacy baggage.
In the meanwhile, the economics of setting up a digital direct model can be challenging. To succeed, enough calls must be deflected away from contact centres to offset the investment required to complete purchases digitally. 基于代理的保险公司, 这可能是一个可怕的命题, 因为它可以打乱经纪人的计划, who fear anti-selection from their core business if they launch a parallel sales organization. Progressive brokers would prefer that digital sales capabilities are passed onto them to complete the purchase, 代表保险公司, 通过他们的经纪网站. However, investment in innovation is always a negotiation between the broker and carrier; each party feels the responsibility to move towards a more digital experience falls on the opposite party. 然而，这是在推迟不可避免的事情. Eventually, insurers will reach a tipping point in moving to a predominantly digital-direct model as the following conditions are met:
- 数字收购的成本比通过经纪人进行收购的成本要低, 在哪里可以把节省下来的钱传递给消费者
- 规模和复杂性是通过数字营销活动实现的, 减少对经纪人的需求
- Products (and their wordings) are simplified enough to be well understood at the time of purchase
- Consumers no longer feel the need to shop for what is essentially a ‘grudge purchase’
- 创新竞争在非传统玩家中变得更加普遍, such as automobile original equipment manufacturers (OEMs) who offer embedded insurance at point of purchase
只要看看对柠檬水的兴趣就知道了, south of the border, and realize that there is market demand for simple products that are easily understood, 购买方便，价格实惠.
Providing digital channels for customers to self-serve simple transactions that would ordinarily generate calls to brokers or insurers is increasingly important. 手机应用是银bet9app务的有效选择, where customers who make frequent transactions benefit from an easy-to-use interface, mobile apps aren’t as obvious a choice for the insurer and insured relationship because the need to interact with insurers is much more infrequent. 比应用程序更好的选择是易于使用, mobile-optimized web-based experience that enables quick and easy customer self-service. Some of these self-service options include accessing policies in easy-to-understand language, downloading documents, 对个人信息进行基本修改, 甚至改变覆盖范围.
在数字化进程中，运营商并不孤单, as many brokerages have also invested in their own capabilities to acquire and service customers. Digital brokerages, like Surex, have invested heavily in their own digital marketing capabilities and envision a future where searching for insurance online results in their websites being one of the top three sites listed in Google search results. These brokerages are looking to a future where they can become the one-site stop to obtain value from both price comparison and advice provided through an omnichannel experience.
That said, in Canada, 对于更复杂的交易，人们不愿意采用数字方式, as consumers seek confirmation around their choices for both sales and service from a ‘trusted advisor.’ Other international markets haven’t experienced quite the same level of hesitation. In Canada, the result is a waiting game for consumers to catch up to the digital capabilities of insurers and for carriers and brokers to make the experience easy enough so that touchpoints to contact centres agents or independent brokers are less necessary. There is a strong belief that COVID-19 has accelerated these changes permanently, 随着保险公司在这些数字功能上投入更多, 消费者行为已经变得更加以数字为中心.
Things are a bit trickier on the commercial side as the risk exposure of businesses isn’t quite as commoditized as basic home and auto insurance. 市场可以根据客户规模、bet9app和位置划分. 适用于中小型企业, obtaining appropriate coverage can be daunting when expertise within these organizations is typically outside of insurance. 提供商业客户需要的建议, 未来几年，经纪人将发挥主导作用. 最近的大流行通过硬市场证明了这一点, 因为零售商和餐馆的保险越来越少, 他们中的许多人无论价格如何都找不到保险.
商业保险并非没有数字创新. Direct to commercial consumers for small businesses like TruShield and APOLLO are eagerly trying to capture the micro-to-small business market. More traditional insurers have recognized that small business has traditionally been too time-consuming to quote, 没有什么价值回报. They have developed their own digital portals so that brokers can complete their own quotes and, in many cases, 绑定保单本身，而不涉及人类保险人. 这对保险公司来说很好，但对传统的经纪人来说就没那么快了.
这就产生了另一个问题. 虽然容量是在运营商社区中创造的, 它在代理之间产生了额外的工作. 随着越来越多的商业门户由运营商开发, it means that brokers will need to fill out the same information multiple times or pre-determine where they would want the business to be placed. For many brokers, it was easier before the portals existed when they could simply blast emails with whatever information they had and then speak to an underwriter to complete a quote.
在商业保险领域已经取得了进展. Brokers such as Zensurance are creating a platform for businesses to get quotes digitally. Quotey provides a quick and easy platform for brokers to reach multiple markets. CSIO is creating standards for industry codes and APIs that should make the quote journey easier industry-wide.
That said, there are measures that insurers can take to make sure that the intake process is quick and easy and much more cost-effective than developing a proprietary broker portal. 通过采用人工智能驱动的自动化, insurers can streamline the intake and triage process to ensure the right risks are delivered to the right underwriter as quickly as possible. Automation can even pre-determine risk appetite so that underwriters don’t even need to touch the risk and can reject the time-wasting determination of whether something is even worth quoting. There will continue to be a need for commercial underwriters and brokers to discuss premiums and coverage for the foreseeable future. Still, the up-front piece of getting the risk in the door will not be nearly as time-consuming as it has in the past.
Long entrenched relationships with brokers have made the broker distribution model sticky. Some insurers are doubling down on the broker model to provide focus and clarity for the business. The reality is that brokers will continue to offer the most value where the insurance purchase requires additional sophistication and advice to complete a purchase. The industry has a way to go to simplify the product and journey sufficiently to make the broker obsolete.
随着客户和保险公司之间的关系不断变化, 保险的分配和服务也将如此. 而自助服务已经成为其他bet9app的规范, 一些保险客户不愿裁掉顾问. Similarly, some insurers are reluctant to move to a digital direct model because they are concerned they won’t realize the value of their investment. Changes have already come to insurance distribution in the US and UK, while Canada lags.
As Canadian insurers continue to simplify their products and make it easier to purchase and service policies online, 加拿大人会准备好和他们一起行动. Traditional brokers will be used for only the most complex personal and commercial insurance situations, 因为数字经纪人和聚合器将为价格购物者提供便利. However, for insurers to offer simplified products requires additional advancement in pricing and underwriting models. 我们将在本系列的下一篇文章中更深入地探讨这些领域.
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By: Andrew Wolch，实践领袖，保险