“A typical large auto insurer could more than double profitability over 5 years by harnessing the power of digital” Digital McKinsey March 2017

In March 2017 McKinsey published “Time for Insurers to face Digital Reality”. It presented compelling evidence that First Movers and a few Fast Followers will win the lion’s share of premiums and profits (details in References). Laggards will fight over a long tail of low profits.

How to double profitability?

By tackling the complete insurance value chain from buying to settling claims to dramatically improve: -

  • Customer Satisfaction
  • Efficiency
  • Effectiveness

Customer Satisfaction

  • From manual data entry to 95% client’s registering online for self-service digital reporting. Source 360Globalnet
  • From FNOL in days and hours to minutes; 35% zero-time eFNOL with AutoServe Source 360Globalnet
  • Claims life-cycle reduced by minimum 40% Source 360Globalnet
  • Increase in Net Promoter Score by 20 or 30 points  Source McKinsey & Company
  • Average NPS 77% over all customers, 82% in Pet Source 360Globalnet


  • 30% reduction in cost of claims Source McKinsey
  • From 20% of call centre calls being “what’s happening” to 50% drop in status calls Source McKinsey
  • Up to 70% reduction in call centre resource requirements Source 360Globalnet
  • 5% to 20% reduction in expense ratio Source McKinsey


  • 5%-15% Annual Revenue Growth Bain & Company
  • Total Cost of Ownership reduced by 20% to 30% McKinsey
  • 3 points to 5 points reductions in combined savings ratio Bain & Company

Collapse Costs and Delight Customers

One digital platform for the entire claims value chain and all perils that communicates with and orchestrates the :

  1. Customer
  2. Internal Insurance Teams
  3. The external supply chain network.

More than just boosting operational efficiency; improving customer satisfaction and overall effectiveness