The Pandemic has forced Insurance carriers, both legacy and new, to adapt their business models, re-evaluate risk modelling and pricing strategies and conceive fresh ways to interact/engage with prospective buyers. Especially within the APAC region, there are many businesses that have adapted to the new business normal successfully and carved out specialised tactics to thrive.
In this blog we will take a look at some instances that reflect these changes and the measures taken by Insurers that will provide insights for other carriers. But before hopping into those points, let’s have a look at few trends which are worth mentioning:
Changing Trends To Be Considered for a Longer-Term
- More Consumer-Centric Solutions:
Most APAC insurance companies use a one-size-fits-all approach; wherein, offering similar packages or products to a broader audience. But that is not the case anymore. In times like this, customers are picky and have become more aware than ever and