A 2D Strategy: Digital Insurance Distribution Strategies for High Performance
The insurance industry finds itself in a position of catching up to the expanding array of channels and digitally-driven distribution capabilities of other industries, like retail, that are setting customer expectations for researching, buying, servicing and using products and services. The expansion of channel options beyond the traditional agent channel, from comparison sites to digital agencies and non-insurance brands that use their affinity and reach to offer insurance to their customer bases, is rapidly changing the market landscape.
The report analyzes the key external and internal forces that are impacting insurance distribution and recommends a two-pronged strategy for transforming distribution management to meet these challenges. The report incorporates perspectives from C-level executives who participated in a Majesco roundtable on distribution management in late June.