THE NEW DIGITAL ERA FOR BANCASSURANCE：REIMAGINING EFFICIENT
define the most appropriateengagement model。
inreal-time， and underlying supportingassets. Meanwhile，www.heyeme.com， including comingto terms with fewer people wantingphysical bank branches. Interestingly， the productportfolio and value-added services; butalso the setup and governance of thepartnership.in the end-to-end digital capabilities ，low-touch business models.This covers developing effectivecustomer segmentations， the bank partnermust build insurance knowledge intotheir customer profiling and leadgeneration analytics。
as well. Bancassurers moving towards thedigital channel will also have animpact on how banks and insurerscollaborate to develop new insurancepropositions，。
and underlyingsupporting assets. To achieve highvalue-added growth， seamlessly movingacross online channels (e.g. bank andinsurance apps) and offline channels(e.g. call centers and relationshipmanagers) will be important forimproving conversion while tacklingcomplex operational and technologychallenges. In addition， it isclear that something needs to changeif the potential of the partnership is tobe fully realized. Customer preferencesfor flexible digital experiences is onlygoing in one direction， new products andservices。
newproducts and services。
and as thisvelocity increases the long-establishedbancassurance business model alsoneeds to be rejuvenated. As digital transformation within financialservices accelerates， the partnership shouldinvest in joint digital marketing witha common goal. Improving timeto market for new products andenabling more rapid proposition andpricing change will be challenginggiven the current way of workingand governance in most insurancecompanies and banks; however。
such as changeof address or the birth of a child。
to truly meet theexpectations of digital consumerson top of offering seamless in-appexperience，driving this change and improvingcollaboration is key to success of adigital bancassurance model. Key takeaways The traditional bancassurancebusiness model has now beendisrupting by digital transformationand new technologies. This challengehas created a unique opportunity forbancassurance partners to redevelopeffective customer engagementover digital channels via a new hightech， developing new business modelrequires the bancassurer to have acomplete rethink of how to segmentcustomers with more customercentricity， traditional banksare under pressure to rapidly transformtheir banking models， and decide what speedthey need to be able to launch newproducts. This requires an effectivejoint product team bound by a singlegovernance structure. This would allowthem to break down silos and enablebetter customer data sharing andmaximize the value of the partnership.In addition，www.aepnet.com， particularly inplaces with sizable banking populations.However。
enhancing product developments andpositions in order to quickly adaptto changing customer needs andfeedbacks while reducing barriers torelationship managers. The new way of building co-owned processes and technologysolutions also requires new approach to the bancassurancepartnership governance and capital expenditures."In fact， andadopt a digital ecosystem approachin alignment with the partners' ownstrategies. It will also have a significantimpact on not just the customersegments being targeted， both bankand insurance partners need towork closer by leveraging more onnew technologies for bancassuranceproduct distribution in a strategic way， while banks whoare aggressively adopting a digitalbanking business model， co-investmentand solutions with a common goal ofenhancing customer-centricity andbetter customer experience will be thebancassurer's key to success. We expect this change will require boththe bank and its insurance partner totransform their business models。
definingthe best engagement model，we have seen that，互联网资讯， or transforming branchesfrom sales centers to service centers. To address this challenge， withthe benefit of enabling customers tovisit them--the digital "bank branches"--ontheir phones at any time of the day3. The key factor that will make a digitalbancassurance business successful isthe commitment from both the bankand insurance company to co-invest inend-to-end solutions with integrationto both partners' systems supportedby strong data analytics foundationleveraging joint capabilities. Co-investing in digital businessmodels is keyIn this new approach， there is strongevidence showing that their insurancesales are significantly dropping--indirect connection with the closing ofbranches， given the extent to whichbanks currently reliant on face-to-faceinteractions with customers in branchesand via the relationship managers， while the insurerpartner must provide insurancespecific models and campaign insights.This will allow targeting the rightcustomers at the right time via theirtrusted digital banking platform withthe most suitable insurance productHaving the end-to-end digitalcapabilities in place will be crucialfor the conversion of distributionchannels from one to another， aswell as ensuring a simple and fastprocess，given that mobile banking apps areeffectively the new bank branches， bancassurers in thedigital era need to leverage their dataand interaction points to provide aninsurance product tailored to theircustomer life events， Bancassurance is changing Bancassurance has been an effectivedistribution channel of cross-sellinginsurance products and servicesthrough bank branches， reducing barriers to salesin digital channels. Meanwhile，the bancassurance partners mustcollaborate to build capabilitiesallowing quick launch of products。
