Strategy of traditional insurers towards aggregators

Study

May 2017

In last years, insurance sector in most European countries has been experiencing a limited success of full direct insurance distribution model but significant rise of new purchasing behaviors from "hybrid" customers with increasing use of internet for information and quotations. Traditional insurers are pushed to set up a multi-access model which has to be fueled by an increasing number of qualified leads supplied to distribution network. However, a majority of traditional insurers still refuses to present their offers on aggregators. As a result, sustained but not "sky-rocketing" growth of aggregators influences the market even despite high marketing investments. Market changes such as regulation, new competitors or big data could possibly transform the game and make aggregators become unavoidable partners for traditional insurers.

The study will be based on the insights from two think tank sessions, jointly organized by Efma and Roland Berger. During the sessions, we will try to find the answers on the following questions:
- What is the current status between traditional insurers and aggregators? 
- What are the pros and cons of aggregators value proposition to traditional insurers? Is this value proposition expected to change significantly?
- Will traditional insurers be more likely to work with aggregators soon?
- How could traditional insurers prepare to successfully work with aggregators?

Keywords : Insurance Products & Services , Insurance Products & Services , Sales management , Digital/Mobile channels