Technology

Most insurers continue to hold strong ties with intermediaries.

Insurance has typically been sold via brokers and other third parties that could advise customers on policies that best matched their needs.

D2C models come hand in hand with digitisation.

Relationships between customers and insurers will be stronger as D2C models are adopted, and this will be beneficial to insurers.

Marketing and distribution are key as the rise of the internet has prompted customers to buy directly from providers.

Digitisation is empowering customers to make more informed decisions.

Although many digital challengers have focused on the direct channel for marketing and distributing their products and services, incumbent insurers continue to account for the largest share of this distribution channel.

While incumbent insurers traditionally relied on third parties to distribute their products, digital challengers have relied on the direct channel since their inception.