The insurance industry is focused on products. But for consumers, when it comes to complex products, it's all about the customer experience.
Ever since personal data was first discussed as having the potential for emerging as a new asset class at the World Economic Forum in 2011, capturing and incorporating personal data into the proposition design has been seen as a potential gold mine.
Beyond encouraging a strong personal relationship with an underwriter, what can carriers do to build stronger connections with agents and grow their book? Celent surveyed a group of agents to understand those areas most likely to make a carrier the agentsí top choice.
Most of these advanced capabilities are being driven by a combination of five elements: analytics, data, digital channels, modern applications and innovative business practices.