Many of insurance managers we talk to want to know which of their digital investments yield a return —and which are not. To find out analyzed Accenture public innovation announcements in the last five years from top 30 insurance companies by total premium volume [1
Our analysis found a high correlation between insurers with strong results in the top line, net income and market valuation and those who invested in two types of innovations:
- Distribution : D digitization, automation or ability innovations in the distribution of insurance products through direct channels, intermediaries or ecosystem partners.
- Customer experience : D digitization, automation or capacity innovations in customer communication quotation and contract (eg price transparency, automated quotation, seamless procurement), policy management and payment (eg policy portals, payment infrastructure with all channels), incident support infrastructure (24/7 emergency services and network functions) and claims.
The Consequence of Customer Experience Innovation s wa s the most pronounced in North America, a strongly consolidated market where the 10 best personal line insurance companies have 70 percent 19659002] of market share . In this environment they must win customers' trust and deliver a consistently good customer experience every step of the way, from first customer contact to claim handling . They also need to expand distribution to new markets and via new channels.
Why we think insurance companies should focus investments on that provide insurance agents
Although there are countless ways to deal with e  distribution and customer experience with innovation investments we believe that insurance companies should start by focusing their investments on enabling captivity and independence  insurance agents in the digital age .
Even with the increase in direct sales, a gentleman plays a key role as the insurance company's main driving forces and we do not see it changing anytime soon . They build personal relationships with customers that inspire trust, they are expected deliver top – notch customer experience s  and they are happy to expand the distribution to untapped markets . But to meet their true potential – especially in the midst of the COVID-19 pandemic, with virtual sales of a necessity – agents need insurance companies  To invest in digital innovations that help them do what they do best.
Top agents integrate four dimensions in their work:
- Growth seeker
Giving agents over de  four dimensions will help them to better serve the business and their customers . And it will increase insurance companies & # 39; profitability and performance .
In the following post, we & # 39; will look at each of these agent dimensions in turn to see where digital investments can provide the most value. . 
If you want to learn more about our research on digital innovations in the meantime, read our report: Wh ere s p ayback on  d igital innovation in insurance?