Insurance and Social Protection
Insurance: three main challenges to address
New regulations come out on a more and more frequent basis. And they strongly impact the sector. First, they generate significant operational costs. The main consequence? The reinforcement of a natural born phenomenon of merging.
At the same time, we witness new consumption trends. Customers have changed… and keep changing faster and faster. They have a greater access to information which makes them have greater expectations than before. They are more and more demanding. And their points of views have changed. For instance, yesterday, they would have compared the customer service of their insurance company their bank’s. And today, they compare it to Amazon’s.
Consumers are harder to catch and more volatile than ever.
The development of digital and technology eventually generates both new opportunities and new risks. This is especially true for connected objects and data. For instance blockchain offers a vast field of exploration. Its use can be very relevant for property insurance: insurance for use, automatic compensation, remote expertise … On the other hand, it certainly is more questionable when it comes to the insurance of people (out of life insurance). Many questions arise, for instance: what about sensitive data ? what protection to plan against cybercrime or piracy ?
These transformations push insurance players to modernize and rethink their model.
Expert and multidisciplinary teams
Addressing a sector with such complex issues requires multi-skilled teams.
Julhiet Sterwen has chosen diversity. Our insurance practice is made up of employees who have held operational positions in the insurance industry and consultants specialized in the sector, able to address all the links in the insurance value chain. They work in multidisciplinary teams, with experts in other fields: training, management, leadership, digital …
Our teams can thus adopt an insurance coloring and / or carry insurance expertise completed with another specific dimension to help our customers to realize their ambitions.