Expanding Channels for Insurance, a Spectrum From Traditional to Affinity and Embedded
The insurance purchase process can be complicated and laborious for customers. Numerous InsurTechs and insurer innovations are trying to change this by creating a “buying” over “selling” approach through a multi-channel strategy. They end up meeting customers where and when they want to buy, creating an “on-demand” feel. Insurers must optimize their position in an expanding field of competition.
With the world being as interconnected as it is, insurance organizations must be diversified in their distribution spectrum, meeting customers where and when they want to purchase. This shift creates a distribution ecosystem that expands the footprint of offerings and reaches new markets. To assist with getting to this goal, an embedded approach becomes a game changer.
Read this report to better understand:
- The levels of alignment on partnerships, and embedded insurance
- How the evolving distribution spectrum is creating new opportunities for insurers and distributors
- What distribution programs companies are using by product, if they are aligned with what leaders are doing, and if they match what customers are expecting
- Where the focus of companies is in regard to traditional models and new, imaginative embedded models