Extract
[...] In fact, potential competitors are not constrained by structure costs, transfer costs, or in terms of computer investments. They can therefore offer an aggressive and highly competitive pricing strategy. Not to mention that commercial barriers remain low since the agency network and the role of prospects lose importance among individuals. This results in a questioning, a disruption of the traditional model and its economic modelbusiness model). However, these various threats also represent opportunities for insurers to highlight their skills, their business expertise to differentiate themselves from the competition and find new growth and value relays. [...]
[...] In fact, In this context, customer relationship management is a differentiator for insurance groups in order to stand out from the competition. In other words, it is no longer the offer of products or services that counts, but the customer experience that will drive competition between players Insurance therefore faces many challenges that it must overcome by implementing an effective global strategy that relies, among other things, on the synergy of computer and digital resources, the mutualization of risks, the diversification of its insurance offer to cover all market segments, but also differentiation. [...]
[...] This time, it is faced with a triple shock, namely strong competition, the digitalization of the sector and (iii) a high degree of customer churn. In this context, it appears that the insurance sector is in the midst of a transformation phase. digital, with the arrival of new technologies («Analytics>, < blockchain >, Artificial Intelligence, Application Program Interface [API) . Meanwhile, it is threatened by new digital entrants, namely innovative young start-upsFinTechs, InsurTechs, RegTechs, PropTechs) They redefine the design and sale of insurance products, client indemnification, and interactions with policyholders. [...]
[...] In parallel to this revolution, open ecosystems are emerging in which insurers, as an open institution, must share their information within this framework of theOpen Insuring at risk. Insurers must go in this direction, at the risk of being overtaken by their competitors. In addition, the contact with the client (the insured) is reversed, so that the insurer becomes 'Client centric', that is, it must solicit the client on customized, tailored to his needs, products and services. In these conditions, the insurers must accompany the client along his life journey, with insurance and non-insurance products that will cover all his needs. [...]
