Dealing with your insurance company’s bottom line is like parenting a teenager: You worry a lot. And you have to keep an eye on it 25/7. It doesn’t have to be like that, though. There are two key factors you should work on to make your bottom line grow: Your cost of sales and customer convenience. And after reading this article, you’ll know how to do exactly that.
At Penni.io, we are passionate about customer journeys, data, digitalisation, etc. Our goal is to make Insurance more transparent and more accessible to everyone.
How you should approach embedded insurance depends on your starting point. If you're doing business as we’re living in the Stone Age, we have to be honest: “You’re doomed, Fred Flintstone!” If not, there’s hope. Therefore, we've made a decision tree to help outline your embedded insurance decision path that guides you to sales and scalability.
Why Digital Embedded Insurance Is Key to Cut Down Your Acquisition Cost - Financial series, Volume 2
Dealing with acquisition cost is like dealing with a lockdown haircut: You want to cut it, but it's easier said than done. Maybe we can help you (with your acquisition cost, not your haircut). In this article, we give the value chain an upgrade to show you why digital embedded insurance can send your acquisition cost in a free fall, raise your technical result, and, oh well, future-proof your business.
The traditional distribution strategies will - done right - give you a linear growth in sales. If you aim for exponential growth in your sales figures, you have to look elsewhere. And in this blog article, we tell you what to zoom in on.
Being in a highly competitive market, insurance companies depend on their customers' satisfaction and loyalty. However, many insurers hunt for the bad apples without being aware that they scare off the ‘good’ customers and evidently kill conversions.
Customers are increasingly engaging with insurance products and service providers through digital touchpoints. Across the value chain, the insurance industry is embracing this development by investing millions to digitise their offerings and provide a superior customer experience.
Selling insurances is tough and costly. Mainly due to the indisputable fact that most customers don’t exactly find insurance attractive to think about. Driving down the cost of sales and exposing the potential customers to insurance products in a time of their interest, is a game about digitalization and proximity played far away from the insurance industries home field.
Recent years have seen an increase in online sales of insurance, largely as a result of customer demand and the inexorable rise of the aggregators to meet it.
With a little spoiler, the answer is: fortunately, not much!
How to settle for a pricing strategy?
What to think of when designing effective processes for insurance sales
How Behavioral Economics Drives Customer Decision-Making
Why are Insurers not improving online distribution?
With data collection, ‘the sooner the better’ is always the best answer
- Marissa Mayer
A win-win situation is top-notch. A win-win-win situation is digital bancassurance. 'Cause it benefits both the banks, insurers and consumers. Yet many banks and insurers fail to carry it through. You don’t want to be a member of the flop club, right? Didn't think so. Read along to find out how you succeed with the partnership model.
Penni Connect is the software needed in the Insurance industry
If you sell insurance, you’re facing an uphill battle. So you need your products, your customer-facing processes, and your sales and marketing messages to match what your customers really want and need. And how you succeed with that, I’ll tell you in this blog post.