Christoph Nabholz on why engaging the insurance consumer is vital for digital transformation

The Head of Business Development at Swiss Re's Centre for Global Dialogue, chaired the discussion on "Digitalisation and the Insurance Consumer" at the Insurance Industry Digital Transformation conference.

Read the text version of Christoph Nabholz's interview:

"The insurance industry currently is in a massive digital transformation process. We would like to provide them a platform for discussing what the best practices are in this industry, and across industries, and see what they can learn from each other.

We are always thinking in terms of what is it for the consumer in terms of what you need as an insurance needs, but now we have to think about what are the services that bring value to our clients, and that industry has to change in terms of thinking in that process.

Anything that you can actually simply makes its an easier customer experience, and customer experience is what is valued. Digital consumers behave differently online, so you have to leave a way the traditional way of interacting with the consumers and actually integrate new ways of thinking. Think maybe outside of the insurance industry as well. Use social medial platforms and the like to digitally engage, and that's a really big task.

First of all, focus on the consumers. That's the key message here. Focus on the consumer, understanding the consumer is key in this whole digital transformation process, if you like. The second one is how do you engage with the consumers? Make it a smooth process. Look with whom you're working with. Partner up with other institutions if you can't do it yourself, because it's a big thing, it's a big change. If you want to make the change in the company you have to have leadership kind of providing them the base for making this happen."