Insurers who put customers at the heart of their business are well positioned to outperform.
Insurers who put customers at the heart of their business are well..
What are the fundamental characteristics required by insurers to survive and thrive over the next decade or two?
Examining the performance of insurance firms making up the FT Global 500 over a 12 year period, KPMG identified key attributes that we believe set them apart from their competition. Considering the global mega trends discussed in the Intelligent Insurer, we developed the paradigm, The Valued Insurer to help further explore what insurers need to do to position themselves for profitable future growth.
Attributes for success: Focus, Effecient, Customer Oriented, Agile, Trust
Mapped against the insurance business model, and focused on timely issues that insurers face, the attributes are components of a strategy that puts at its heart the belief that a greater customer experience will ultimately lead to profitable business. While one overarching characteristic is no great surprise – a consistent orientation or refocus by these firms around their end customer–these key attributes merit careful contemplation.