Kennedy Vanguard Rolls Out ‘Consulting to the Insurance Sector: Channel Optimization and the Customer Experience’

Kennedy Consulting Research & Advisory, a company focusing on market analysis on the consulting profession, announced the release of Consulting to the Insurance Sector: Channel Optimization and the Customer Experience, an under-appreciated, yet important subsector of financial services-driven in part by new regulations that are forcing companies to meet higher capital requirements and upgrade technology platforms most insurers do not yet understand.

According to a release, the report identifies current engagement trends and rates leading firms' specific competencies, strengths and weaknesses.

"The basic problem is that, despite all the benefits of the insurance world of 2013, far too many insurance companies are better equipped for the insurance world of 1972," according to Tomek Jankowski, Senior Analyst and Financial Services Industry Research Lead. "They are burdened with outdated legacy technology platforms and equally outdated channel relations (on both the carrier and agent side) - and are internally organized on a heavily product- centric, siloed basis."

The exclusive research examines these and other core issues impacting the competitive landscape and demand for services. It also includes in-depth profiles of Insurance Sector consulting firms, with capability maps illustrating each practice's standing across:

-Various consulting approaches, from service lines to ERM/risk and regulatory focus

-Client Types, including manufacturing/carriers; distributors/ brokers/agents; captives/reinsurance; P&C (property & casualty); and life

-Channel Optimization & The Customer Experience

-Channel/Distribution Strategy - More fully developing and fine- tuning the means through which the insurance company interacts with brokers and end-users, whether via technology (e.g., mobile), face- to-face interaction, or otherwise, and how it handles those relationships over the long-term.

-Sales & Marketing - A key element to any channel strategy, but often mistaken as the only element; that strategy that addresses the most immediate customer-facing components of the company, and how to integrate or align this strategy with customer, product and growth strategies.

-Customer Service - The assistance centers and advice provided by an insurance company to those people who buy or use its products or services.

-Claims Processing - The "business" end of insurance, where claims filed by customers (i.e., end-users) are handled, accepted and paid or rejected (and often further disputed).

-Actuarial/Core Process Improvement - The product development area of an insurance company

-Telematics/UBI - The process or program whereby a risk profile and pricing for an individual end-user (customer) are pegged to their own driving habits and behaviors, based on data collected from their car.

Profiled firms in Consulting to the Insurance Sector include:

-Accenture; AlixPartners; Alvarez & Marsal; Aon Hewitt; Atos; BearingPoint; The Boston Consulting Group; Brown Smith Wallace; Capgemini; Cognizant; CSC; Deloitte; EY; Grant Thornton; IBM; KPMG; McKinsey & Company; Milliman; Navigant; North Highland; Novantas; Oliver Wyman Group; PwC; Tata Consultancy Services (TCS); and Towers Watson

Plus a look at:

-Agency Consulting Group, Inc.; Aartrijk; A.T. Kearney; Bain & Company; Campbell Insurance Consulting; CGI; DBH Consulting; FTI Consulting; HCL; Infosys; John Heath & Company; Marakon Associates; MBS Consulting; Merritt-Gentry Group; Perr&Knight Ptolemus Consulting; Roland Berger Strategy Consultants; SDG; Sibson Consulting; Tech Mahindra; West Monroe Partners; and Wipro

More Information:

http://www.KennedyInfo.com/Consulting

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