波士顿咨询.-Role-of-regulator-in-enabling-the-digitization.pptx

1、0 Copyright 2016 by The Boston Consulting Group,Inc.All rights reserved.LJUBLJANA,SEPTEMBER 4TH,2017 Filip Glavan&kos jlaki The Role of The Regulator in Enabling Digitization of The Insurance Industry 1 Copyright 2016 by The Boston Consulting Group,Inc.All rights reserved.BCG has a strong presence i

2、n the SEE region and we offer international and local insurance know-how.with experience across all major insurance topics Marketing&sales 90 Corporate Development 60 230 Digital/IT Health 60 Life 140 Organization/HR 90 Non-Life 150 Operations 50 Claims 15 Reinsurance 10 Asset management 120 Trends/

3、Strategy 210 BCG has strong global and regional presence.Source:BCG 2 Copyright 2016 by The Boston Consulting Group,Inc.All rights reserved.Digitalization is changing the world as we know today Source:BCG Data explosion Pervasive Digitalization Enabling Technologies New Consumer New Market Forces Un

4、precedented visibility on customers,business,activates,market trends Omni channel,sensors,always connected Processing power,storage and robotics ready for AI and automation Ready to engage with brands,anytime,anywhere Disinter-mediation,sharing economy,crowdsourcing,etc.The world is changing rapidly

5、,driven by technological advancement&data availability Copyright 2015 by The Boston Consulting Group,Inc.All rights reserved.3 Digital is fundamentally reshaping the competitive dynamics and customer expectations A more dynamically changing environment is underway Source:BCG New customer expectation

6、s Evolving technology Big data Cloud Internet of Things Wearable Devices Cognitive Computing Social,Local,Mobile InsTechs entering value chain Insurer 4 Copyright 2016 by The Boston Consulting Group,Inc.All rights reserved.The emergence of new Generations further accelerates the digitalization-By 20

7、27 in Slovenia Millenials will account for ca.50%of the client base 2.0 2.5 4.5 5.0 3.0 3.5 4.0 1953 1947 1948 1949 1998 1999 2000 1995 1996 1997 1992 1993 1994 1989 1990 1991 1986 1987 1988 1985 1983 1981 1982 1980 1984 1946 1951 1950 1952 1979 1971 1972 1973 1974 1975 1976 1977 1978 1970 1969 1968

8、 1967 1966 1965 1964 1963 1962 1961 1960 1959 1958 1957 1956 1955 1954 Baby boomers,once the bedrock of large insurers,now only represents 1/3 of potential target customers.and Millenials have very different expectations of customer service and channels to interact The new Generations of customers a

9、re digital natives Baby Boom Generation(1946-1964)75 million Generation X (1965 1980)66 million Millennial Generation (1981 2000)87 million Digital native index Year of Birth 1.U.S.Census Bureau,Population Division.2014 estimate of population;Generations as defined by Pew Research Center,2014 2.BCG

10、digital satisfaction survey 2013(n=3,135),based on MaxDiff technique:consumers distributed 100 utility points across segments according to how positive they felt their online experiences are 5 Copyright 2016 by The Boston Consulting Group,Inc.All rights reserved.Copyright 2015 by The Boston Consulti

11、ng Group,Inc.All rights reserved.5 Digital has already transformed numerous industries Digitalization is attacking the value chain of insurance companies Source:BCG Additive digital value Digital attacks value chain Digital dominates value chain Digital progress Impact of digitalization Public secto

12、r Construction Energy Insurance Automotive Agriculture Telco Banking Consumer Retail Logistics&mobility Media Analog competition Impact of digitalization is growing in all industries Transformations Digital competition Attackers 6 Copyright 2016 by The Boston Consulting Group,Inc.All rights reserved

13、.Yet,most insurers are lagging behind in delivering the right digital experience Source:Based on Morgan Stanley and BCG Insurance Customer Survey 2014;(n=500 p.countries:Australia,Canada,China,France,Germany,HK,India,Italy,Japan,S.Korea,UK,US);Average of European markets(UK,GER,FRA,ITA,ESP,PL,POR);a

14、verage for property and casualty and life insurance;NPS of existing customers;BCG project experience Average Insurance Best-in-Class Insurance True Customer Orientation 50+20-12 Customer Satisfaction in Net Promoter Score-25-484 at Research at Purchase at Servicing Insurance customers dissatisfied w

15、ith online journeys Net Promoter Score across online journeys 7 Copyright 2016 by The Boston Consulting Group,Inc.All rights reserved.Digital can bring tremendous value by.Source:BCG Unlocking major inefficiencies in the current operating models Allowing better accessibility&higher insurance penetra

16、tion Enhancing the relevance of insurers Shifting the focus from sheer loss compensation to prevention 1 3 2 4 8 Copyright 2016 by The Boston Consulting Group,Inc.All rights reserved.There are typical challenges insurers are facing with digital Scale and business case Complexity of products Legacy IT system Hesitance to innovate Regulatory obstacles Source:BCG 9 Copyright 2016 by The Boston Consulting Group,Inc.All rights reserved.Regulatory obstacles delay digitalization in SEE&CEE as well It i