HANNOVER RE
User centricity also requires IT capabilities in order to deliver the entire insurance journey on a mobile phone . Roudaut explains that Hannover Re clients are not only insurance companies . They are also to assist the direct distribution clients such as MNO , MMO , Banks , retailers , and eCommerce companies who work with our insurance clients . He says , “ Ecosystem partnerships effectively digitises the entire insurance journey through a mobile phone , a feature appreciated by our MNO and SME clients notably .”
Insurer centric solutions : Motor insurance Hannover Re offers a Business Intelligence ( BI ) dashboard to insurance companies to monitor and pilot their portfolio performance . This provides a user-friendly interface between the customer and service provider .
According to Roudaut , the more details the customer can share with us , the better our insights are . The business visualisation tool enables insurance clients to better assess performance on top-line ( distribution , market segment , geography , personas , demographics , age , make , model , etc .) and bottom line ( granular LR and CR on every possible micro-segment ).
The next stage is the analysis of the portfolios – for trends and performance metrics . Microsegmentation for propensity and sensitivity analysis can be deployed for more accurate price points per personas , distribution segments , demographics . The aim is to increase margin and market share where it is possible and where it makes sense . “ Our approach has yielded a minimum of a two percentage point improvement of the client ’ s combined ratio and a double-digit increase in conversion rates and top-line growth .”
The third essential ingredient is innovation . Roudaut points out that the process is key . “ As ethnographers we have defined the use