Customer insights in insurance: A new way to grow

In the recovering, low-growth economy, insurers are beginning to explore ways to leverage data, technology and tools to achieve profitable growth. According to recent research, insurers are seeking new ways to retain existing customers and attract new ones. Yet, many insurers report that that their current efforts to gather customer insights and execute marketing campaigns are not as effective as they could be and that many challenges stand in the way of improving their results.

This paper summarizes the research results, highlighting the business drivers, the challenges, and the priority areas for insurers’ marketing activities, multichannel strategies, social media and internal use.