Consumers are increasingly turning to digital channels that are offering greater streamlined experiences. They are getting more savvy and their financial needs are growing more complex - what does this mean for bancassurance? The Current State of BancassuranceAccording to the McKinsey study, Banks have been slow to implement a digital model for bancassurance. It’s time for them to rethink their distribution models to stay relevant in order to meet the growing needs of consumers. Customers in today’s faceless world rarely visit a physical bank branch and banks are yet to master the game of digitisation.The Need To Go DigitalBanks and insurers need to buckle up and provide comprehensive solutions to consumer demands. Digitisation is the key ingredient of growth for bancassurers. It promises in delivering value to both consumers and banks. Bancassurers have deterred from digitisation for way too long now. It is the key to expanding reach, cross-selling services, and transforming the way banks meet the rising needs of consumers.The Winning Formula for Sustained and Lasting Bancassurance GrowthPersonalisation, superior customer service, omni-channel engagement – paying close attention to these three components will ultimately help bancassurers achieve long-term growth.
How Can We Help?Privé´s bancassurance solution enables a digital end-to-end journey that services Customers, Relationship Managers and Financial Advisors.
The Shift Towards Digitisation – The Way ForwardCapturing the incredible growth opportunities for bancassurance lies in digital and analytics capabilities. Combining the use of data and extending technology capabilities will enable banks to offer personalization, superior customer service, and a seamless omnichannel experience.Image Source: mohamed Hassan from Pixabay
[Free Download] Bancassurance: Why the time for digital transformation is nowThe need to deliver an integrated digital experience is increasingly becoming a priority. Download our FREE Bancassurance Kit here to know more about key trends of the bancassurance channel and how we can help you drive your business better.