Channel Optimization

Channel Optimization

Optimizing distribution is one of the most effective ways to improve profitability. As customer preferences for self-serve and advisory channels change, along with new regulations and technologies, opportunities arise for insurers to further differentiate themselves from their competition.

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Global Insurance Change Lead Partner

KPMG in Canada

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Channel Optimization

The evolving preferences of the next generation of insurance customers are already changing the way insurers distribute products. Offering a consistent high quality customer experience across all sales channels while ensuring transparency of financial services products will be expected in order to excel and build trust in both digital and face-to-face interactions.

Channel optimization can provide

  • Improved customer perception and better data collection.
  • Compliant effective sales processes that optimize a consistent customer experiences across touch points.
  • Higher ROI of new and existing channels. and a better understanding of the cost to serve.
  • Customer access to ‘best-in-class’ products at a fair price.
  • More productive sales – improved sales processes, increased revenue and a reduced risk profile.
  • Remediation cost mitigation.

KPMG’s approach focuses on 4 key areas:

  • Multi-channel optimization strategy
  • Multi-channel implementation
  • Needs based selling processes
  • Regulatory compliant selling processes

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