Understanding New Dynamics and New Opportunities in the Insurance Market
- Governance and Compliance
“When it comes to digital insurance offerings, insurers still need to strike the balance between efficiency for the business, good outcomes for customers, and talking to customers in the channel they prefer. It’s important that we can provide this kind of experience.”
In this second video with Nick McCowan, Head of General Insurance, Post Office, he discusses his view of the future of the insurance market, especially how digital insurance can play a role and where he sees new opportunities.
McCowan views pricing and pricing sophistication as an important factor to attract and retain customers, but he also views pricing as one leg in a three-leg stool.
“Price will always remain a key factor in customers choosing which product and service they purchase, but value and quality are becoming bigger factors in buying decisions. That creates a massive opportunity in a market where there is not as much price disparity as there used to be. Insurers have to deliver on this.”
To see the full interview, please watch the full video now.