World Insurance Report 2009

Latest Headlines

Press Release: Capgemini & EFMA World Insurance Report 2009 reveals vital multi-distribution models for capturing growth in a challenging market
Explore the Report’s Key Findings: New insights on the attitudes distributors have toward multi-distribution, the influence insurers can have on those attitudes, the necessary steps to a multi-distribution models, and the real-life progress insurers are making in building and leveraging multi-distribution capabilities

Conclusions from the 2009 World Insurance Report

Findings from the report survey of 2,250 distributors and interviews with 59 industry executives reveal:

• The Multi-Distribution Imperative: Many of the world’s leading insurance companies are moving towards multi-distributions models, recognising that the sale of insurance through multiple distribution networks is a powerful growth model, especially in mature markets. Multi-distribution can also help insurers generate additional revenues and improve network productivity
• Embracing Multi-Distribution: Distributors are not inherently predisposed by their existing business model to favour or resist multi-distribution, and their attitude can therefore be changed. Insurers can turn knowledge about drivers of resistance to reduce resistance and create enthusiasm for multi-distribution. The survey reveals financial incentives and internet have the most significant impact
• Multi-Distribution Maturity: A mature multi-distribution model develops through five distinct phases. Many insurers have developed significant capabilities in the initial stages of multi-distribution, however, only a small number have developed more advanced models and can still capture further opportunities
• Lessons from Leading Insurers: We include case studies to illustrate key lessons learned, including the need to develop effective commission strategies, establish clear support structures and operating principles, adapt internal functions, develop workforce skills and behaviors and establish strong leadership
• A Process of Transformation: Moving to a multi-distribution model is a process of transformation. Seven key steps form the logical components of this transformation, in which insurers: start with the customer; follow with the network; rethink organizational design and leadership; embrace technology; test and learn with cooperation pilots; monitor the value of the overall business; and seize and wield the power of information

To learn more about how to attain a “mature” multi-distribution model, download the entire World Insurance Report.

Dig Deeper

• View the World Insurance Reports archive to read past reports
• About the World Insurance Report
• European Financial Management & Marketing Association