The business structure in the mediating of insurance is changing.
The brokers are replaced by various communities– as distributors of insurance products. The trend of offering insurance combined with or as part of the object being insured is developing. In this situation definitions and premises for success are redefined and social networks, technology and a totally revised risk assessment change the insurance products and prices. This transfers the control from the supplier to the consumer, and WIMS is ambitious to facilitate this trend of development.
Giving qualified advice on insurance requirements presupposes good insight and understanding of customer needs. This information is held by the customer, in his demographic profile and within the communities he takes part in. The system solution can combine this information to support the customer in finding the right insurance products if provided with expertise and access.
The demand for homogeneity keeps prompting more standardisation. This intensifies the competition making expertise and market segmentation crucial. WIMS facilitates the option of combining standardised insurance products using the right insurance givers with the right products still meeting the unique demands of each single group.
Distribution of insurance
Insurance products are exceptionally well suited for digital distribution. Efficient online self-service presupposes that the entries and the premises within the professional system are reflected in the typical user interface of the specific distribution channel. Therefore, a portal must be designed to manage these multiple distribution channels a social networks or communities appear to be a shortcut between insurance giver and consumers.
The development in society and technology alters how risk is calculated. Health conditions and life expectancy increase, buildings and vehicles are equipped with more subtle technology to prevent accidents. New and enhanced alarm systems monitor claims potentials at illness, theft, fire and natural disasters. Traditional calculating of risk no longer suffices. WIMS meets the needs for individual tariffing based on insured object, customer and distribution channel.