Gartner Research

Factor in Insurance Consumer Diversity for Effective Digital Business Transformation in Europe

Published: 30 April 2015

ID: G00273105

Analyst(s): Kimberly Harris-Ferrante, Juergen Weiss

Summary

Gartner identified five different customer segments with distinct variations in digital channel use, buying patterns and product needs. Business and IT leaders of European life and non-life insurers need to adapt their digital transformation strategies or risk failure of their programs.

Table Of Contents
  • Impacts

Analysis

Impacts and Recommendations

  • Technology aficionados who actively embrace mobile and other technologies form only a small customer segment, forcing business and IT leaders in the European insurance industry to revise their digital strategies
  • Buying decisions of European insurance customers are based on diverging factors, requiring different service, channel and technology strategies for business and IT leaders
  • While many insurers are rethinking product innovation to offer new value-added products to their target markets, most consumers are not interested, and therefore, sales will lag for nontraditional products

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