The US insurance sector is currently facing challenging times. With lower interest rates, shifting demographics, a sudden increase in the need for digitization, dynamic market trends, and customers’ changing demands, companies are struggling to keep pace with the market. Infiniti’s custom market research solutions help US insurance sector players understand and stay ahead of market developments and industry changes to avoid losing profits and market shares.
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Custom Market Research Solutions for a US Insurance Sector Client (Graphic: Business Wire)
To leverage Infiniti’s expertise in offering custom market research solutions to stay ahead of the curve in the competitive and challenging US insurance sector, request a free proposal.
"Low-interest rate, persistent barriers to growth, and rising customer expectations are increasing challenges for companies operating in the global insurance industry. To succeed in the long-run, companies will need to stay current with the market trends, competitors’ strategies, and evolving customer needs," says an insurance sector expert at Infiniti Research.
The client, an insurance company, based out of North America, encountered a steady decline in profit margins due to declining investment yields and slowing market growth. Additionally, the client had to spend a large part of their discretionary budget on compliance and systems to keep up with escalating market requirements. The US insurance sector client was unable to build a digital platform for consumers, which made it difficult for them to maintain profitability and thereby lost ground to competitors. Therefore, the client approached Infiniti Research to leverage their expertise in offering custom market research solutions. During the seven-week engagement, the client sought to achieve operational excellence and cost-efficiency, understand market developments, and keep pace with industry changes.
Infiniti’s market research experts developed a comprehensive approach to assist the US insurance sector client. The approach included the following:
100+ in-depth interviews with market experts, stakeholders, and business executives in the US insurance sector
Analysis of critical factors including investment environment, industry development, industry capacity, and marketing channels
Analysis of the current and future market potential, spend, value chain, and market trends in the insurance sector at a global level
In-depth industry research covering market size, distribution channel analysis, market trends, competitive landscape, legislation, and company profiles
With Infiniti’s custom market research solution, the US insurance sector client focused on improving their loss ratios through improved risk selection and pricing, stronger risk management, and other diverse measures. The client also applied lessons and leading practices from other markets worldwide to increase efficiencies and lower costs in risk and compliance. The US insurance sector client also identified the best InsurTech companies and collaborated with them to accelerate their digitization journey and fulfill longer-term transformation plans, upon the advice of the experts.
Additionally, by leveraging Infiniti’s custom market research solution, the US insurance sector client:
Developed new value propositions and new business models, read the complete article to find out how
Achieved operational excellence, managed regulatory pressures, digitized distribution, mastered disruptive technology, and navigated market risks
Achieved savings of over $1.2 million
Speak to industry experts to learn how Infiniti’s custom market research solutions help US insurance sector clients cope with the changing demands of consumers and the increasing need for efficient digitization of distribution.
About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us
View source version on businesswire.com: https://www.businesswire.com/news/home/20200918005225/en/
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