Insurance analysis
WORLD
INSURANCE
REPORT
2013
2013 World Insurance report
TABLE OF CONTENTS
05
Preface
07
CHAPTER 1
Many Non-Life Insurers Continue to See Improvements in Core Underwriting Performance
07
— Introduction
08
CONTENTS
10
— Efficiency-Ratio Model Shows Many Countries Improved Non-Life Claims Ratios in 2011, but Some Were Hit Hard by Catastrophe Claims
— Many Insurers Find Acquisition Costs Are Stubbornly High
17
— Conclusion
19
CHAPTER 2
Insurers Globally Have Substantial Room to Deliver
More Positive Customer Experience
19
— Introduction
20
— Data on Customer ‘Satisfaction’ Fails to Gauge How Well Insurers Are Really Addressing Key Customer Needs
22
— Capgemini’s Customer Experience Index (CEI) Highlights Gaps Between What Customers Expect, and What Insurers Deliver
— CEI Offers More than a Thumbs Up/Down on Insurer Products & Services
23 28
— Customer Experience in Banking Exceeds that of Insurance Across the Globe
— Customers Want a Mix of Traditional and New Networks and Channels
28
— Conclusion
31
CHAPTER 3
To Leverage Integrated Multi-Distribution Strategies,
Insurers Need to Invest in Mobile as a Channel
31
— Introduction
32
— Integrated Multi-Distribution Approach Is Key to Customer Acquisition and Retention
— Mobile Is Forcing Many Insurers to Retrace Steps on Path to Integrated Multi-Distribution
— Investing in Mobile Can Help Insurers Grow Revenue, Enhance Customer Experience, Cut Costs, and Improve Efficiency
— Use of Social Media Is Already Widespread in Insurance Marketing, and Will Grow More Extensive Over Time
— Conclusion
26
34 36 39 41
43
— Case Study: Genialloyd Leverages Social Media to Boost Reputation, Brand, and Sales
— Case Study: Customer Insight Into Action (CiiA), a Social Media Analytics Solution
44
Methodology
46
About Us
42
INSURANCE
REPORT
2013
2013 World Insurance report
TABLE OF CONTENTS
05
Preface
07
CHAPTER 1
Many Non-Life Insurers Continue to See Improvements in Core Underwriting Performance
07
— Introduction
08
CONTENTS
10
— Efficiency-Ratio Model Shows Many Countries Improved Non-Life Claims Ratios in 2011, but Some Were Hit Hard by Catastrophe Claims
— Many Insurers Find Acquisition Costs Are Stubbornly High
17
— Conclusion
19
CHAPTER 2
Insurers Globally Have Substantial Room to Deliver
More Positive Customer Experience
19
— Introduction
20
— Data on Customer ‘Satisfaction’ Fails to Gauge How Well Insurers Are Really Addressing Key Customer Needs
22
— Capgemini’s Customer Experience Index (CEI) Highlights Gaps Between What Customers Expect, and What Insurers Deliver
— CEI Offers More than a Thumbs Up/Down on Insurer Products & Services
23 28
— Customer Experience in Banking Exceeds that of Insurance Across the Globe
— Customers Want a Mix of Traditional and New Networks and Channels
28
— Conclusion
31
CHAPTER 3
To Leverage Integrated Multi-Distribution Strategies,
Insurers Need to Invest in Mobile as a Channel
31
— Introduction
32
— Integrated Multi-Distribution Approach Is Key to Customer Acquisition and Retention
— Mobile Is Forcing Many Insurers to Retrace Steps on Path to Integrated Multi-Distribution
— Investing in Mobile Can Help Insurers Grow Revenue, Enhance Customer Experience, Cut Costs, and Improve Efficiency
— Use of Social Media Is Already Widespread in Insurance Marketing, and Will Grow More Extensive Over Time
— Conclusion
26
34 36 39 41
43
— Case Study: Genialloyd Leverages Social Media to Boost Reputation, Brand, and Sales
— Case Study: Customer Insight Into Action (CiiA), a Social Media Analytics Solution
44
Methodology
46
About Us
42