Ecosystems in the insurance industry are becoming more relevant: analysis of insurance trends and customer needs by financial experts.

Ecosystems in the insurance industry are becoming more relevant: analysis of insurance trends and customer needs by financial experts.

According to a report by www.versicherungsbote.de,

Current customer needs and expectations are constantly changing, and companies must adapt to remain competitive. According to a recent study by Accenture, the so-called “ecosystems” of insurers are becoming increasingly important. Customers expect increasingly integrated services and unmet coverage needs in important risk areas such as “rising cost of living,” “climate change,” “falling income,” “social inequality” and “physical health” are identified. At the same time, there is interest in holistic packages in the areas of health and care as well as services related to home and mobility.

A clear consequence of these developments is the potential for growth in the insurance industry. The study shows that insurers should use these trends to align their product range with the priorities and expectations of their customers. New product concepts as well as innovative expansions of existing product concepts in various insurance areas could be important here.

Furthermore, the study found that consumers are more willing to share data with insurance companies, especially for faster and easier services, price advantages and personalized risk reduction. This offers insurers the opportunity to design their products and services in a data-optimized manner.

Overall, there is clear potential for the insurance industry to take advantage of the current changes in customer expectations and provide growth impulses.