P&C insurers have had a taste of doing business in 2012, and they realize they are dealing with a tough environment—one in which little or no organic customer growth exists to fuel corporate growth. Gaining market share means taking it away from someone else, so the level of competitiveness in the industry is high and will only get more intense.
At the same time, customer expectations regarding service and value are growing dramatically. P&C carriers gaining an edge today are those that are employing tools and information to do two things: out-execute the competition operationally, and out-serve the competition from a customer perspective.
The common denominator here is information, and the technologies that deliver that information and help translate it into effective goals, decisions and execution. A carrier that is more effective and efficient at managing information can streamline processes, make better decisions, get products to market faster, and give customers the sense of being known well and served properly.
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