The crisis in the insurance market, digitalization is no longer an option

//The crisis in the insurance market, digitalization is no longer an option

The crisis in the insurance market, digitalization is no longer an option

2019-07-12T17:12:05+02:00 11 April, 2017|

The crisis in the insurance market; digitalisation is no longer an option, but a mandatory choice. The alternative is extinction, as happened to other sectors that at one time seemed to be well-established.

 

Some concrete examples

 

Do you remember the last time you rented a movie from a video library? That you bought a flight or train ticket in a travel agency? Think about the music sector: do you remember the title of the last CD you bought? These examples may sound simple and even a little extreme, but there is no point in beating around the bush: nowadays, the digital world is no longer a novelty, a trick that can be used to impress other people when you meet them for a drink.

I clearly remember that the music industry used to laugh at Mp3 some years ago. They used to say “Nobody will ever listen to an Mp3 instead of a CD”, in a tone that sounded at once both amused and arrogant. Now, we all know how that story ended.

Joking apart, we do have to deal with certain important facts: there used to be more than 15,000 travel agencies in Italy before the web developed on-line selling systems.

Today there are less than 5,000. Translating this into percentages, 70% of travel agencies closed.

Moreover, consider the fact that the digital revolution has just started. The mass distribution of smartphones, broadband internet and fast connection systems has given us the possibility to exploit the huge potential of the digital world.

Until some years ago, marketing experts used to repeat “mobile first”, meaning that all companies that wanted to communicate with their users had to do it with a mobile perspective. Now things are so different that Larry Page, one of Google’s founders, said “We are no longer in a Mobile-First World. We are in a Mobile-Only World”. This means that the mobile-first world came to an end, now the world can only be mobile.

 

The crisis in the insurance market, digitalisation must be seen as a resource

 

The insurance market was one of the first markets to be seriously damaged by the digital revolution, yet there is a figure that many people continue to underestimate: insurance accounts for 8.3% of total online expenditure by Italians.

This figure should make operators in the sector think, because it is expected to increase exponentially.

Analysts agree that the Italian market will see a boost in online expenditure over the next few years. This means that the real crisis in the insurance market has not yet arrived. It all depends on to what extent the digital tsunami will wash over this sector.

Nowadays, the global turnover of insurance companies is decreasing because prices are going down and the competition is becoming more and more diversified: when the pie gets smaller, small fish are those who suffer the most because they have less means to react. Just consider that a giant like Amazon is thinking of entering the insurance market, and that it has already been aggressively infiltrated by a variety of credit institutions and by Poste Italiane.

That is why digitalisation cannot be considered as an option anymore, it must be seen as a necessity for those who want to be competitive in the insurance market.

It is paramount to change the way of thinking and start to consider our customer’s smartphones as our best allies. The crisis in the insurance market will be much more severe for those who are not be able to speak the language used by their customers, a language in which the most common terms are application, internet, smartphone etc.

 

Gocard, a real solution

 

In response to this changing environment, it is necessary to implement a digital solution now, when the competition is still thinking of how to survive in a world that is disappearing. Moreover, we have the solutions, and these solutions work.

On Wednesday 6th July, come to the Talent Garden of Calabiana in Milan, where we will be waiting for you! We will introduce you to Gocard, the new way of increasing your sales, a way that will beat the crisis in the insurance market. It will be an opportunity to find out about the many possibilities and the numerous potentialities that exist in the digital insurance market.

Gocard is a system for updating your sales network in a very difficult and competitive sector, that is the insurance sector, providing you with the tools to increase sales, motivate your network and will allow you to see the results in real time.

This event is free. Book your seat for Wednesday 6th July at TAG TALENT GARDEN, the elite in digital start-ups and innovative projects in Italy.[/vc_column_text][/vc_column][/vc_row][vc_row row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern” css_animation=””][vc_column][blog_slider blogs_shown=”3″ category=”Management, Productivity” show_categories=”yes” show_date=”yes”][/vc_column][/vc_row]