As our digital native customer base continues to grow, the insurance industry is in a transformative era, driven by this digital revolution. Technology and innovation are redefining the approach of insurers to risk management and customer engagement and experience.
Customers are demanding simple, fast, transparent, lean and user friendly solutions, reflecting the shift in their needs and expectations. The future of insurance is driven by several mega trends which have customer-centricity at their core. We must be sure to design processes, products and services from a “client” perspective, not the other way around, and based on these mega trends which are shaping the future of insurance:
From ownership to usage: The traditional model of ownership is giving way to a usage-based economy and customers prefer flexible coverage options tailored to their specific needs.
From thermic to electric: The transition from thermic to electric mobility is not just an environmental imperative but also a catalyst for change in insurance, with unique risks and benefits.
From stand-alone mobility to Mobility as a Service (MaaS): MaaS platforms cross-business segments are revolutionizing the mobility ecosystem and demanding solutions for shared & connected mobility options.
From care to prevention: The focus is shifting from reactive care to proactive prevention, giving way to personalized and efficient care solutions which leverage digital health services, teleconsultation and smart health solutions.
From physical to Phygital: The blending of physical and digital experiences – «phygital» – is becoming the norm, and seamless experiences that combine the best of both worlds will enhance customer satisfaction and engagement while complexifying the distribution models.
From function to mission: Customers want to find sense in personal and professional life in a way that opens the field to new ways of working and new insurance needs.
A future of Innovation, Partnerships and Connected Platforms
As we explore this new era of insurance, it is evident that innovation, collaboration, sustainability and partnerships are key to creating value in the global economy and ultimately to succeeding.
At Allianz Partners, we are committed to driving this transformation by offering advanced solutions that meet the evolving needs of our partners and customers.
Digital and Connected Platforms are a core pillar of Allianz Partners’ strategy, as they will create seamless and personalized experiences to customers. With emerging technologies to integrate data and services as well as Augmented Intelligence, Connected Platforms will
redefine how partners and clients will interact with insurers, reshape processes and offerings and enhance the overall customer experience. Insurance companies are no longer simply providing coverage, they are committed to safeguarding the future of their clients and their families by anticipating risks and providing solutions before customers even realize they need them. Connected Platforms allow us to offer predictive and intuitive solutions.
We also see high growth potential in “Embedded Insurance”; the direct integration of our insurance and service products into our partner´s business models. It addresses their clients demands for seamless protection via integrated digital journeys and delivers a holistic and compelling customer experience.
On March 26th, Allianz Partners will be at the 11th Insurance World Challenges with a keynote by Jean-Marc Pailhol, Chief Officer Global Strategic Partnerships and Member of the Board titled “Migrating in the Digital Natives World.” Find out in the keynote how Allianz Partners sees the digital revolution changing our world, which mega trends influence this revolution and where we see the conditions of success for the insurance and service industry in this transforming landscape. The future of insurance is smart and connected.
