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contact@ninety.co.uk
+44 (0)20 7060 4090
Head office: No.1 Cornhill, London EC3V 3ND, United Kingdom
In the course of our engagements and activity we have developed the following points of view:
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The ability to extract insights from data analytics is becoming a competitive differentiator
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The ability to extract insights from data analytics is becoming a competitive differentiator
Companies that develop the methods and business practices to mine and model the ever increasing "big data" sets are expected to benefit from improved customer targeting and relevance, better risk selection and consequent underwriting/pricing advantage. Laggards may find it difficult to replicate such capabilities, which are likely to be proprietary, suffering materially higher COR.
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Delivering omnichannel customer journeys will become a hygiene factor to avoid further commoditisation
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Delivering omnichannel customer journeys will become a hygiene factor to avoid further commoditisation
A seamless brand experience and customer journey will be required to meet customer expectations and maintain any brand preference; failing which further product and brand commoditisation is likely.
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New distribution platforms could significantly affect the cost of access to customers
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New distribution platforms could significantly affect the cost of access to customers
Connected cars and social networks provide two examples of emergent distribution platforms for insurance products. These may dictate new commercial terms to insurers to promote and sell their products to end customers.
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Defensive investment into innovation will continue to grow to de-risk disruption
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Defensive investment into innovation will continue to grow to de-risk disruption
Incubators and garages will proliferate in an attempt to pre-empt and gain control over potentially disruptive digital trends. The commercial benefit of such activities remains to be proven and should be considered as discretionary R&D spending.
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Automated advice will be the only economically viable service for certain classes of customers
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Automated advice will be the only economically viable service for certain classes of customers
Ubiquity of access to digital services will allow previously under advised/served customers to be profitably served through automated advice. Suitable products will also be required to meet such customers’ needs and means.
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Connected technologies will materially reduce certain classes of risk, requiring a change to our value proposition
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Connected technologies will materially reduce certain classes of risk, requiring a change to our value proposition
Intelligent cars and homes are set to provide reliable solutions to issues of human error, eventually eradicating certain classes of risk. Early adopters of these technologies are likely to question the value of traditional GI product offerings.
