2014-03-05 - Mobile life business ‘holds key to profits'

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Information about 2014-03-05 - Mobile life business ‘holds key to profits'
Business & Mgmt

Published on March 16, 2014

Author: digitalinsurancenews

Source: slideshare.net

insuranceNEWS.com.au | Life+Health insuranceNEWS | insuranceNEWS (the magazine) | insuranceNEWS Jobs Brought to you by: Mobile life business ‘holds key to profits’ 5 March 2014 Life insurance sales made through agents are most likely to deliver positive customer experiences, but mobile channels hold the key to boosting profitable behaviour, according to the Capgemini World Insurance Report. Agency sales receive a 39% positive customer response in the study, compared with 32% for the internet and 26% for mobile. But good customer experiences through the mobile channel are most likely to drive further purchases and references to friends. “Our findings indicate mobile holds the greatest potential to move customers towards more profitable behaviour,” Capgemini Chief Sales and Marketing Officer Jean Lassignardie said. “Insurers dedicated to providing a positive customer experience via mobile will position themselves well to improve business performance.” Among life insurance buyers, younger consumers in emerging markets in the Asia-Pacific region are most likely to consider the “internet-PC” and “internet-mobile” channels important, followed by Latin America. The report is based on the Voice of the Customer survey, which questioned more than 15,500 people in 30 countries across five regions about satisfaction with their insurers. About 37.5% of life customers consider the ability to research products and receive quotes online important when it comes to digital capability. Claims servicing receives the second-greatest weighting. “In this area, insurers’ capabilities generally lag customer expectations,” the report says. Capgemini estimates nearly one-third of the insurance industry’s business will occur digitally within five years. Companies with a strong digital presence and a customer focus are 26% more profitable on average than other groups, it says. “Insurers have realised the importance of going digital, yet many are still in the nascent stage, testing the waters and offering basic digital functionalities. “There’s no denying the growth of the digital lifestyle of today’s consumer, and anything less than a top-to-bottom approach to digital transformation will fail to adequately deliver.” Copyright © 2001-2013 McMullan Conway Communications Pty Ltd All rights reserved. Mobile life business ‘holds key to profits’ - International - Life+Health ... http://www.lifehealthinsurancenews.com.au/international/mobile-life-b... 1 of 1 3/16/2014 8:27 PM

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