Insurance carriers are forging new partnerships to  to offer greater value to customers. Baloise below acquires a digital moving services firm.

Allianz has set up a partnership with Chinese internet giant Baidu that lets it use data on consumers' online behaviour to customise products. By a flight ticket and get an offer for flight insurance.

That points to a critical success factor. To deliver the optimal customer experience the insurer has to know customers' current and planned behaviour. Insurance is just a small part of that bigger picture.

Who owns that data? Well we know the big online platforms:-

  • Google
  •  Facebook
  • Amazon
  • Baidu and Alibaba as Allianz is exploiting above.


Data is key to future success. Structured and unstructured, internal and external yes but there is another critical success factor. 

Adding context to data creates killer competitive advantage.

Why, when, where are people flying and which airline? Allianz stands to know with ts new partnership in China but what will it do in Europe & the US?

What are the challenges to people moving house? Baloise stands to know more by acquiring MOVU. In the linked Accenture report at the bottom you will find other examples.

See "Competing in a world of crumbling boundaries" to explore this further.

Insurers will have to partner with the gorillas in the market as they compete with other companies all connected to people, property, vehicles, pets, sensors.

That's why digital transformation is just one one aspect of achieving competitive advantage in a connected world. Structural, cultural, organisational change need a broad range of skills. Change Management skills are in greater demand than ever.

Pity the CEO and CIO of the traditional insurance carrier and broker faced with conflicting goals e.g. 

  • digitising claims processes whilst constrained by legacy core systems
  • speeding up claims processing from FNOL to reimbursement  whilst still detecting fraud.


On the bright side, 2017 results will be better than ever so the best thing to do will be to invest these profits and cash/capital in the transformation needed to still be leaders in ten years time. Find the right change management advice and technology partners so you can:-

  1. Redesign customer experience
  2. Digitise processes
  3. Redesign products and services
  4. Chose the right partners for the "big picture play"