Multichannel distribution for insurance products

Digital technology is disrupting the insurance industry, moving it away from a customer relationship model involving branches and advisors and toward a multichannel distribution strategy for insurance products.

Interactions with prospects and customers have become more complex, with a host of methods available for accessing insurance. Policyholders use multiple channels, combining both the physical channel (mail, point of sale, agency, etc.) and digital channels (web and mobile) along the way. Multichannel distribution has become the norm in the insurance market.

To remaineffective,you want to:

  1. Proficient online underwriting

    You need to allow prospective customers to purchase your products on their own and in a variety of ways, and you need to be able to underwrite these products more efficiently.  Focus on simultaneously coordinating and sharing information across multiple distribution channels (physical, telephone, and web) and among the various people working with policyholders (agents and brokers).
  2. A simple and user-friendly UX

    Ease of access, purchase, and use are must-haves for the user experience of prospects and customers, in a commercial environment where customer expectations have risen sharply. The attention you give to your web portals must match the high quality standards you set for branches frequented by policyholders.
  3. Higher customer conversion rates

    By being online, wherever prospective customers hang out, you reverse the traditional relationship for future customers, who must be able to access your products and teams to buy insurance. Simplify the user experience to achieve a better conversion rate for your prospective customers.
  4. Faster distribution

    To be responsive and innovative, you need to be capable of rolling out new insurance products quickly. Your teams should be free to set up and market products on their own. With effective distribution and policy management tools, you can focus on what is important: signing up new customers.
  5. Combined productivity and quality

    By allowing policyholders to carry out a number of actions themselves, you free up time for your management teams to focus on improving service quality.  Combining digital and human interaction, you offer exactly the right level of customer service that the market expects, while maximizing the productivity of your teams.

What you need

A technological partner who is an expert in solutions for coordinating across multiple distribution channels and among the various people working with policyholders.