We are delighted to announce the results of our Insurance Executives Survey conducted at our exclusive Dinner in December. The Survey revealed that the enablement of mobile applications, improved broker management and the investment in Customer Relationship Management solutions are the key priorities for underwriters over the next 24 months.
A sign of the times in this sector, the results showed that 83% of those surveyed at Pythagoras’ executive dinner for senior insurance personnel in December, plan to enable mobile applications to improve business efficiency over the next 12 months. 50% will invest most heavily in improving their management of brokers this year, while 70% will focus their technological investment on CRM and collaboration tools over the next two years. 65% of those surveyed cited siloed information as their greatest inhibitor to growth.
“With margins in the sector at their lowest for some time, competition amongst insurers is intense,” says Andy Cowdrill, Head of Financial Services, Pythagoras. “To succeed in this marketplace you need a standardised approach to managing key customer and broker relationships and without this in place, Insurers will fall behind the competition that do.
“The figures resulting from our survey speak for themselves. Efficient mobile working is a necessity not a luxury these days and it’s imperative that organisations have the right systems and processes in place to service their customers and brokers. Our Insurance framework built on the Microsoft Cloud (Dynamics CRM, Office 365, SharePoint and Lync) address insurers’ pain points and change the way organisations work, bringing a cohesive, joined-up approach.
“The fact that 65% of survey respondents consider siloed information to be growth prohibitive is telling,” Andy adds. “The Microsoft Cloud improves access to data, eliminates individual silos of information and provides an all-encompassing view of key relationships and their performance in order to enhance opportunities for cross/up selling.