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Insurers in Asia are accelerating their digital transformation strategies

May Knight, Accenture’s financial services insurance management consulting lead in Asia-Pacific | Jan. 27, 2016
To maintain a competitive advantage in a disruptive marketplace, insurers in Asia-Pacific need to move swiftly and assertively, says Accenture's May Knight.

So what should the C-suite at traditional insurance companies do?

  • Commit to your chosen business and distribution models, moving beyond a succession of pilots
  • Proactively define your position in new ecosystems, cooperation models and partnerships
  • Move from indemnification to real-time protection
  • Make innovation and customer-centricity the cornerstones of distribution strategies
  • Strive for simplicity of access, transactions and offerings
  • Focus agents on advice, value-add and deeper customer relations

The bottom line is to maintain a competitive advantage in a disruptive marketplace, insurers in Asia-Pacific need to move swiftly and assertively.

 

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