How to become a winning insurer

Time for a new study! In a preview a few weeks ago, I wrote about the difference in communication between leading insurers and non-leaders – how they understand that low-barrier customer communication is an essential factor for doing business. In the new study “Winning strategies for insurers – How industry leaders are excelling outside the comfort zone”, my colleague Andrea Cornelius and I analyze in more detail how industry leaders differ in their strategic choices from their peers.

To get to our results, we interviewed 80 insurers in four market types – high versus low growth and high versus low maturity markets. We defined as leaders those insurers that either distinguish themselves by  growing stronger than their market (growth leaders) or by being in the top quintiles in Return on Assets (profit leaders).

We describe the four dimensions in which insurance leaders excel, and then go on to describe strategic archetypes, i.e how insurers develop capabilities in these dimension to adapt to their market types and the overall goals they want to achieve.

As usual, no more spoilers; I invite you to go ahead and download the study – and then post some comments here. If you insist on spoilers, I recorded a short podcast; I’ll be updating this post as soon as it becomes available on the study landing page.

Looking forward to some discussion, on- and offline.