No business today can afford to take customer relationships for granted. And, the insurance industry needs, more than ever, to anticipate and better respond to the changing needs and expectations of their existing as well as future/potential customers. Like all other industries, the insurance industry is in the midst of the 4th Industrial Revolution that affects every single aspect of the business-of-conduct. Customers today can easily evaluate, communicate and compare not only insurance products but also insurance providers, and determine how to better prepare to protect themselves against risks.
The insurance industry is known as one of the most cautious, and slowest, to keep up with change and innovate among all industries. However, the forces driving these radical transformations in the industry push the boundaries of the business-as-usual. In order to gain the edge over the competition, insurers need to deepen their understanding on how to reach their customers through a wider range of channels, both directly and through their distribution partners.
The Insurance Distribution Forum will help the insurance sector players adopt a right mindset to compete in this customer-centric world, better focus on customers, take an innovative approach and develop critical tools to expand their ability to meet the changing needs of the industry.