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.
With a little spoiler, the answer is: fortunately, not much!
Penni Connect is the software needed in the Insurance industry