The insurance industry is currently undergoing profound change. Where standardized insurance products were previously sufficient, policyholders now expect insurers to provide holistic and flexible solutions and services that meet their living conditions and are tailored to their individual situations.
This requires individual and uncomplicated offers from insurance companies – ideally digital and therefore convenient and usable regardless of location.
From product to holistic solution provider
The insurance product alone is no longer enough. What is desired is an all-round, worry-free package that, in addition to the insurance product such as vehicle insurance, also includes other services from outside the industry – for example, the vehicle registration service, the offer of suitable winter tires and/or the possibility of paying the GHG premium after the vehicle has been completed. to apply for insurance. Not only in terms of customer needs, but also in terms of competitiveness, insurance companies must move from a business model that was previously focused on products to a service-dominated business model.
Even if the product remains highly relevant, service increasingly dominates the process and customer decisions. Companies in other sectors have already adapted their offerings to meet the needs of their customers and are now offering, among other things, insurance solutions as part of an expanded service offering.
For example, in addition to a new vehicle, customers of automobile manufacturers often also receive suitable financing or insurance services that simplify the entire vehicle purchase process for them. The immediate utility is what counts. As a result, insurance providers who focus exclusively on insurance products fall into the background and become less important for their customers. You must therefore work on the goal of being perceived as a holistic partner who responds to individual and all-encompassing needs in a wide variety of life situations.
B2B2C platforms: The door to offer diversification
In practice, the change to a service-dominated business model and the digital integration or connection of services from outside the industry are sometimes very difficult to implement due to technological challenges (e.g. due to outdated IT systems and a lack of resources). In addition, it takes a lot of effort to find suitable and trustworthy cooperation partners.
There is also the question of how customer data can be passed on so that data protection continues to be guaranteed.
This is where industry-open B2B2C platforms like onpier come into play. They act as a connecting element between different actors – in this case insurers, service providers and customers – and, with the appropriate blueprint, enable service-dominated processes and simple orchestration. Because resources are linked together through logical and technical integration on a common platform. The platforms thus form the basis for quick and easy adjustment of the offer and serve as the basis for generating added value.
With a view to the development towards all-round, worry-free packages, this offers insurers a cost-effective option to combine their insurance products with suitable services from trustworthy and competent partners, such as the approval service. Thanks to the digital platforms, the individual offers including value-added services can be used directly by the policyholders, without this requiring any additional effort for the insurer.
How insurers can permanently strengthen customer loyalty
After the insurer is connected to the digital platform onpier, it can select the use cases that are relevant to it. After activating the use case, the insurers receive an individual URL that can be accessed, for example, via a QR code or link. Using this link, customers can access a user-friendly interface on onpier via the insurer’s touchpoint (e.g. after taking out vehicle insurance), which is designed in the look and feel of the respective insurer.
In a very short time and with just a few clicks, policyholders can now book and pay for the registration service, for example. A service provider will then take care of everything on site. For an optimal customer experience, the data already recorded or existing by the insurer and necessary for the service partner – such as the customer name and relevant vehicle data – is pre-filled in the application process. These are then passed on to the service provider with the customer’s consent.
Conclusion:
The key to success lies in individually adapting the business model towards service dominance according to the needs and expectations of customers. In this way, insurers can create a unique customer experience and build a long-term partnership. By viewing insurance not just as a stand-alone product, but as part of a comprehensive service offering, it can maintain its relevance in a changing industry and achieve solid customer relationships.
2023-10-16 04:28:03
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