We're constantly tracking Insurance business priorities, trends and digital best practice. Our latest industry report on Growth & Innovation in the sector is now available - get your free copy below.
Insurance report highlights:
- Over 41% of businesses cite technology as their biggest blocker to growth;
- Insurtechs & MGAs are most bullish about revenue growth - targeting over 20%;
- 70% of companies say innovation is key within their current business plans, but differ significantly on what they define as innovation.
- Only 38% of businesses feel digitally ready;
- 'Smart Use of Data' and 'Market Disruption' seen as key to innovation, but most businesses aren't doing it;
- 'Customer-Led Strategies' ranked as least important area for innovation;
- Digital innovation in insurance is generally accepted as important, although Brokers place lower importance on their digital capabilities.
93% of Insurtechs and 60% of MGAs are focused on expanding distribution.
NEW PRODUCTS & SERVICES
66% of all insurance businesses see New Products as key to driving growth.
80% of Brokers & MGAs see organic as key to driving future revenue growth
DIGITAL SALES VIA THIRD PARTIES
Insurers are placing greater focus on digital sales compared to others.
Insights from senior Insurance leaders
Over 150 C-Suite Insurers, MGAs, Insurtechs and Brokers were consulted to develop this 30-page industry report, providing detailed analysis, charts and commentary, examining:
- Which groups have the most ambitious growth targets;
- Key growth drivers for the industry;
- The big factors hindering growth;
- How key is 'innovation' in the sector and how is it defined;
- What digital technologies are insurance businesses embracing;
- The digital readiness of the insurance sector.
This report was conducted in association with the MGAA and financial services consultancy Altus.
Complete the form below to receive your 30-page industry report. Emailed same day.
In summer 2020 we are launching a new online service with partners Altus providing digital maturity scoring and user experience tracking for the Top 20 UK Insurers.