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The client, a leading player in the Scandinavian insurance market, faced challenges with outdated and inefficient data collection methods and a lack of coordination in external monitoring activities. This limited their ability to respond to industry trends and maintain a competitive edge. Additionally, shifting customer expectations—such as demands for more personalized services, digital-first interactions, and seamless experiences—were reshaping the market. As new opportunities like Open Insurance emerged, the client struggled to adapt and capitalize on these trends while also addressing evolving customer needs, putting their market position at risk in a rapidly changing industry.
A structured process was implemented to address the client’s challenges, with a focus on both current requirements and future customer needs.
Understanding customer needs and future expectations on insurance products
The client’s current situation was analyzed, with a focus on shifting customer behaviors and expectations, particularly around digital solutions and personalized insurance services. This included assessing how future trends, such as Open Insurance, could meet these needs and create new business opportunities.
Develop a new data model and align the strategy with future customer needs
A new data collection model and strategic direction were developed to better understand and meet evolving customer demands. This was done in close collaboration with senior management, with the goal of creating more personalized, digital customer experiences while exploring new business opportunities like Open Insurance.
Implement new ways of working and drive customer-centric change
New workflows were introduced to center the transformation around the customer. The new data model was integrated to provide deeper customer insights and tailor offerings accordingly, while new technologies and business opportunities, such as Open Insurance, were implemented to strengthen the client's competitive edge.
A highly successful collaboration that enabled the client to capitalize on market opportunities.
A new external monitoring process was established, ensuring more efficient oversight
Improved insights into competitor strategies and activities in adjacent industries
Potential business development opportunities were identified and prioritized for growth
