Digitization is Transforming Distribution

To stay relevant, insurers must upgrade systems to support multichannel sales, marketing and service requests, direct sales and make use of big data, according to Swiss Re.

May 14, 2014

Chris McMahon

New technology likely will enable customers to arrange almost all of their insurance needs through remote digital channels, according to new report from Swiss Re, and will enable insurers to make use of micromarket segmentation and increasingly sell directly to consumers. While the evolution of distribution likely will be gradual, the example of the UK auto insurance market, where e-commerce sales now dominate, shows how quickly consumer buying patterns can change.

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