With the necessary trigger points available, the ability to reach out to clients in a simple, highly personalised manner, through their preferred communication channel at optimal times in the day is where the protection industry horizon should be if it does not want to be left behind.
Improved communications shouldn’t be limited to clients’ current product holdings.
With advances in data science and analytics, the ability to identify cohorts of existing, and new, individuals with specific protection needs will increase rapidly.
When coupled with advances in digital marketing content, delivered to advisers by insurers to share with customers in easy to consume, highly relevant and personalised formats, the outcomes of a well co-ordinated effort between insurers and advisers start to become evermore tangible and meaningful.
Of course, none of this will be easy.
Investment in technology advances within the protection industry has been typically slow and fragmented.
However, with a rise in customers and advisers born entirely in the digital age, used to sharing insight and feedback and customising experiences, there is a real opportunity to harness technological advances to make significant strides to engage our audience and close the protection gap.
Matt Usher is protection change delivery manager at Aviva
