[Jan 2021] The first release of our DigitalBar insurance benchmarking service is now live. The service is a strategic collaboration with Financial Services consultancy Altus and is born out of years of tracking digital innovation trends. The service creates a much needed independent standard for digital maturity in the insurance sector.
A NEW STANDARD IN DIGITAL INSURANCE
DigitalBar is a new online service providing a digital maturity league table for the UK's top Insurers with scoring and analysis across the insurance lifecycle and an expanding showcase of Insurers' digital journeys.
Says Simon Fenn, Director at Pancentric Digital, "As a digital consultancy specialising in the insurance space, we're frequently asked to benchmark Insurers' digital activities against their rivals, and more widely. Invariably it's a one-off exercise prior to a new digital investment or transformation. The new DigitalBar service makes this type of benchmarking insight continuously available to stakeholders but also scores digital maturity against a common set of tried & tested assessment criteria providing a valuable, independent metric for digital progress - a step forward for the sector."
BUILDING ON YEARS OF RESEARCH
Mark Andrews, Director of Altus's Insurance Division says "We're delighted to be partnering with Pancentric Digital on the DigitalBar initiative. Our team at Altus has been formally tracking digital innovation and transformation trends in the insurance sector since 2015 with regular reports and analysis. We've honed our assessment criteria which we know to be robust. DigitalBar leverages this research heritage and takes it to another level by allowing ongoing access to benchmark scores analysis along with over 400 screenshots and videos of Insurers' quote & buy journeys. We are also closely monitoring digital self-serve capabilities across the policy lifecycle (Quote, MTAs, Renewal, Claims) and more recently extended this to include other digital services such as Document Portal, Mobile Apps, Webchat and Telematics."
BENEFITS OF THE SERVICE
- Trusted, independent benchmark - informs and balances expert opinion.
- A new digital success metric - where do insurers stand in the league table?
- Easy to compare your brand with rivals - see where you can improve.
- Maturity scores & design insights to support report writing, presentations, business cases, etc.
- Keep tabs on innovation - get alerts when rival brands digitally upgrade.
- Understand digital trends and prevailing demands on technology.