Insurance – Activate customers and sales
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Selbst in turbulenten Zeiten steckt der Versicherungsvertrieb voller Wachstumschancen. Der Schlüssel zum Erfolg: Ein klarer Fokus auf eine gezielte Produktivitätssteigerung und kontinuierliche Erschließung neuer Vertriebspotenziale. Mit unserer maßgeschneiderten Strategie – von der Optimierung bestehender Kanäle über den Aufbau neuer Vertriebswege bis zur gezielten Befähigung Ihrer Vertriebsmannschaft – realisieren wir für Sie zusätzliches Wachstum. Gemeinsam sichern wir Ihren Erfolg.
Gregor Morin, Senior Manager
Challenges
Digitalization and changing customer needs are influencing the relationship between insurers and policyholders in a fundamental way. As a result, there will be new opportunities in customer contact, for example by promoting digital and hybrid advisory services. This applies to insurers, but also to competitors from other sectors. Traditional providers need to open up to these new ways. In addition, the broker market is also changing, with a tendency towards increasing consolidation. Overall, insurers need to acknowledge that market power is shifting further towards their customers and partners (e.g. pools and large brokers). They should therefore expand their sales interface and generate new customer contacts, sales channels and new partnerships.
Traditional insurers have large customer bases but often limited policy penetration because many of their customers have only one or few policies. Selling additional policies to existing customers is often difficult for traditional insurers. The declining number of insurance intermediaries due to regulatory requirements and the shortage of skilled workers, among other factors, does not make things any easier. To counteract this, the efficiency and productivity of the sales organization must be increased and existing cooperations expanded.
Solutions & fields of action
Agency of the future
Digitalization and intensifying competition, combined with recruitment problems among insurance agents, are leading agencies to become more professional and act as larger units or teams. New digital tools and hybrid customer behavior present both challenges and opportunities for insurance agents.
Our approaches enable the agency of the future to successfully meet the challenges and, in doing so, increase the active selling time of insurance agents as well as the conversion rate. The result is a significant increase in sales success.
New customer access via digital sales
The customer journey to insurance products is increasingly taking place in the digital world. For example, 8 out of 10 customers now research online, and one in two insurance decision-makers already takes out policies digitally. Younger people in particular are a key driver of this development.
The trend towards direct, digital insurance sales has experienced a boost as a result of the coronavirus crisis and continues to grow even after the crisis. According to the GDV, digital contracts will account for almost 20% of new business in 2023. This corresponds to significant growth of 25% since 2021.
In the insurance industry, organic growth will no longer be possible in the future without well-positioned digital sales.
We know the market and have worked with our customers to implement a large number of digital sales solutions with impressive success.
Sources:
8 out of 10: https://www.bitkom.org/Presse/Presseinformation/Versicherungen-Juengere-informieren-sich-online#_
One in two: Sirius Campus Customer Monitor e-Assurance 2023
GDV: https://www.gdv.de/gdv/medien/medieninformationen/versicherung-vertrieb-abschluesse-digital-181036
Bancassurance as a growth driver
The profitability of banks is coming under increasing pressure. Against this backdrop, banks need to counteract the pressure on earnings by tapping into new sources of revenue. One way out is to expand the insurance business. According to our analyses, the German bancassurance market has a growth potential of 5.1% p.a. in terms of gross premiums written by 2030.
We know the best practice examples and success factors for insurers and banks from the European market in order to achieve sustainable growth in bancassurance. In various project settings, we have realigned bancassurance models for insurers along our “Bancassurance” framework and transformed and digitalized banks' insurance sales models.
Activating existing customers
Increasing the number of policies per customer is a huge lever for growth, a fact not lost on most insurance companies. However, they have trouble utilizing this knowledge: they need to rethink the way they advise and approach customers by offering innovative solutions and improving customer-centric communications in order to attract customers to new policies, retain them over the long term and ultimately increase their upselling and cross-selling rates.
We know the success factors and have assisted our clients in implementing solutions that ensure long-term success, e.g. direct sales centers and next best offers in brick-and-mortar and digital sales.
Rethinking sales support
Insurers are facing the challenge of changing requirements of insurance agents for which current support models have not been designed. Insurers therefore need to react and take the changed requirements of these agents seriously, develop and consistently use digital tools, and set up insurance agency support both functionally and efficiently.
Based on insurance agent journeys, we have implemented modern sales organizations at our clients that are characterized by a clear division of various functions. For instance, focused hunting units are responsible for the development and expansion of business partners. Central farming units quickly and pragmatically resolve the agents’ issues.
Gewinnung junger Kunden
Der demografische Wandel in Deutschland wirkt sich deutlich auf die Bestände vieler Versicherungsunternehmen aus. Bis 2030 werden deutsche Versicherer voraussichtlich mehr als 10 % ihrer Kunden verlieren, was zu einem erheblichen Rückgang der Beitragseinnahmen führen wird. Gleichzeitig gelingt es den Versicherern nicht, genügend Neukunden in den jüngeren Altersgruppen zu gewinnen, um diesen demografischen Effekt auszugleichen. Infolgedessen befinden sich die Versicherer in einem Abwärtstrend, der kurzfristigen Handlungsbedarf erfordert.
Hierzu konnten wir bereits eine Reihe von Versicherer Wettbewerber beraten und unterschiedliche Lösungsansätze entwickelt. Dazu gehören u.a. die Entwicklung von Vertriebsstrategien, die Konzeption von Zielgruppenstrategien sowie die Weiterentwicklung digitaler und hybrider Vertriebswege der Ausschließlichkeit.
Regulatorik vertrieblich-chancenorientiert umsetzen
Die zunehmende Regulatorik stellt Versicherer vor immer größere Herausforderungen, sowohl durch neue Gesetze als auch durch strengere Anforderungen. Gesetze zum Verbraucherschutz, zu Nachhaltigkeitsthemen und zur Regulierung des Vertriebs, wie etwa die EU-Kleinanlegerstrategie, sind bereits in Kraft getreten oder werden aktuell durch den Gesetzgeber vorbereitet. Für Versicherer ergibt sich daraus ein klarer Handlungsbedarf.
Wir bieten Versicherungen regulatorische Sicherheit und unterstützen bei der Erfüllung der gesetzlichen Vorgaben, während wir gleichzeitig vertriebliche Chancen aus neuen Regelungen identifizieren und nutzen. Dabei binden wir den Vertrieb effizient ein und sorgen für eine breite Akzeptanz der Maßnahmen innerhalb der Vertriebsorganisation.
