Key findings of this year’s report include:

• Customer convenience is a necessity:
  • Insurance customers say the convenience of their experience is impacted by the ease and speed of access to information. But more than 40% of customers say it is difficult to get in touch with agents and brokers, who are insurers most prominent distribution channel, outside of typical office hours.
• Technology can supercharge channel effectiveness:
  • Agents and brokers need to ramp up their digital engagement capabilities and almost half (44%) of those surveyed said they need support from their insurers for digital collaboration and engagement tools to assist customers effectively.
• Knowledge gaps are preventing personalized customer advice:
  • 68% of insurance executives are missing personalized advice capabilities which acts as a barrier to convert leads into sales. Equipping agents and brokers with AI-based analytical tools can help them understand customer preferences and create a customized experience.