Insurance Industry
The insurance industry is currently going through a restructuring process, mainly due to decreasing customer loyalty, demographic change, a lower product differentiation and a more intense competition. For reasons of a lower strategic differentiation in the insurance branch, the focus used to be on the area of operational excellence (increase of efficiency) in the past years which resulted in a high rate of analogue growth strategies. This leads to a crowding out on mature markets and, as a consequence, to premiums being on the downdraft.
In this light, innovative developments are necessary in order to enable market differentiation and the establishment of new business models. ICT solutions and strategies are therefore effective multipliers which enable both cost savings through process optimisations as well as a growth in sales through new products and services.
Among the most essential approaches, there are telematics solutions and intelligent insurance objects, behaviour-related rate and premium models as well as additional services which result in the different technologies and mirror an emotional meaning for customers, coming with a higher customer loyalty.
INSET offers long lasting methodological know how and ICT expertise and facilitates insurance companies with the analysis and evaluation of relevant technological trends, the analysis of costumers’ needs, analysis and consulting on technology and cooperation partners up to the development of comprehensive ICT company strategies. Thereby, we base our work on latest results from our national and international research projects and integrate them directly into our advisory activities.
INSET advisory services for insurance companies:
- National and international market and technology studies
- ICT strategy, conception and implementation
- Advisory to business and cooperation models
- Innovation management and business development
- Target group specific user analysis/survey of demand
- Communications concepts
- Sales advisory