SAP for Insurance

Becoming a Customer-Centric Insurer

The insurance industry is evolving. Customers are informed, demanding, and connected. Providers need to establish a stronger customer orientation, build deeper relationships with customers, and deliver products to market faster.

New regulations, dynamic capital markets, and mergers and acquisitions abound. Insurers face stiffer competition for educated customers from traditional and nontraditional players using new technologies. These factors can lower earned premiums and reduce resources available to serve customers.

To maximize earned premiums, some successful insurers optimize their distribution network and find the balance between direct and intermediary business. This approach helps to enable and motivate a diverse sales force and reduce time to market.

Successful insurers reduce operating costs by integrating and streamlining processes, which eliminates redundancies, and getting the right data to the right people at the right time.

To run better, an insurer must deliver superior customer service by truly connecting with customers. This approach helps ensure that a company doesn’t lose hard-won customers to a more responsive competitor.

In the future, customers will be able to change their insurer as easily as they change television channels. To succeed, insurers must provide “customer care” and not just “financial services.”

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