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Risks, wishes and dreams at the centre
of holistic customer-centric advice

The digitalization is on the go and not only changes the way we work, but also the demands of customers. Hybrid and self-service solutions are becoming a "must have" to ensure a 24/7 availability as well as to handle simple inquiries and product closings. These quick and easy solutions and self-service components also affect the tasks of insurance advisors.

Insurance companies have the opportunity to differentiate themselves through "holistic advice" and thus "advice quality" not only from their competitors, but also from purely price-driven transactions via platforms. We are facing that insurance advisors are evolving more towards “holistic risk managers” by accompanying their customers through their lives with the help of modern IT solutions.

However, conventional advisory solutions quickly reach their limits when it comes to customer centricity, as they are not able to display risks, preferences or wishes and dreams of customers. This deficiency extends from user surfaces to data structures.

Customer centricity creates trust
Customers usually do not want to deal with their risks and needs and often do not have an overview of their financial situation. However, they do want to achieve their financial dreams and goals and want to make sure that their risks are covered.
 
The transition from basic needs (achieving goals, self-realization and covering risks) to the products itself does not work, which means that the added value of the products is hard to grasp. This perceived lack leads to uncertainty and often to distrust in topics like “insurance/pension planning” in general.
Wishes, dreams and goals as key to success
A holistic analysis and visualization of customers’ risks and needs helps to create the much-needed customer-centricity. Therefore, we put wishes, dreams, and goals at the centre of our advisory solutions. With an individual set of questions and external data sources, we analyse customers’ objective risks, subjective needs and risk preferences and convert them into comprehensible, individual product recommendations. Thereby, we make customers’ needs and product recommendations understandable and transparent for both advisors and customers, which leads to sustainable customer relationships.
Transparency through objective data
The "wissma" study on the riskine risk analysis, which was carried out using in-depth interviews, has shown three main advantages.
 
(1) Identification of the most relevant risks: The holistic analysis gives customers feedback on their most relevant risks based on objective data.
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(2) Trust in product recommendations: The neutral and data-based risk analysis creates a holistic overview for customers and leads to additional trust in product recommendations.
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(3) Desire for coverage: The holistic risk and needs analysis leads to an increased desire for coverage or for more products, because highlighting individual risks and necessary insurance products creates transparency and triggers a need for further information and advice. 
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A 360° customer view leads to sustainable customer relationships. It is therefore recommended to have a good mix of digital solutions and personal contact, depending on the preferences of the customers. 

See our website for more details: www.riskine.com

 

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