Insurance sales – personal and digital

Horn & Company is the right partner for the innovative design of your sales models.

How the right consulting firm ignites passion in insurance sales

The demands on insurance sales are changing rapidly – digital transformation, shifting customer behaviors, and the evolution of ecosystems are driving new sales models. Field sales and internal sales teams are working more closely, digital channels are becoming the norm, and bancassurance is making a comeback. To ensure growth and efficiency in sales, a clear strategy and innovative sales models are essential.

The digital transformation as a central driver requires further development of the sales processes for all sales channels. Potentials are identified in a data-driven manner, approaches are demand-orientated and individually tailored to the customer. Banks are increasingly exploiting the possibilities offered by analyzing payment data. Over-the-counter advice is becoming less important, so media-based/digital concepts – possibly involving tied agents – must be developed and implemented accordingly. Today, a large number of products are sold digitally and not only in direct sales, making "conversion-optimized" sales channels a necessary prerequisite.

Digital solutions are also gaining ground with commercial customers. "Small businesses" are transferring their demands from their private environment, while brokers and larger companies expect digital pricing/quotation/application tracks.

Our experts for innovative sales models

Dr. Christian Daumoser
Principal
christian.daumoser@horn-company.de
Dr. André Dibbert
Managing Partner
andre.dibbert@horn-company.de
Dr. Ulf Herrmann
Partner
ulf.herrmann@horn-company.de
Christoph Marx
Associate Partner
christoph.marx@horn-company.de
Tobias Schustek
Associate Partner
tobias.schustek@horn-company.de
Christof Wagner
Managing Partner
christof.wagner@horn-company.de
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Selected references of insurance sales Projects

Strategic reorientation of sales channels 

Challenge

Stagnating new business in exclusive sales, succession issues and agency consolidation, coupled with the challenge of driving forward direct insurance sales and omni-channel or multi-channel sales. These were the main challenges facing our client's own sales organization.

At the same time, key account management, support and connectivity logic for broker sales and co-operation partner sales had to be rethought.

Solution Strategy

We have adapted the sales model for in-house sales. Centralized and decentralized lead generation and stringent transparency across the sales process contribute to greater traction in sales. Direct sales were connected with the agency locations. The equipment has been harmonized with the processes in such a way that multi-channel sales – including in consulting situations with cooperation partners – is possible. Career models and remuneration models have also been adapted to this.

A new segmentation was developed for broker sales and a new support model and service processes were created. Everything from concept to implementation support.

Conception and implementation of a business model for a digital bancassurance broker platform

Challenge
A lack of commercial success and the need to reorganize the system landscape. Horn & Company was confronted with this initial situation during the strategic reorganization and operational implementation of a digital broker platform. The challenge was to put the entire business model to the test. From the development of a marketable, technical solution to media-based sales and service processes – and to derive the necessary conditions for the operating model. We were able to create a successful (renewed) market entry for the client.
Solution Strategy
For the strategic reorganization of the digital broker platform, the business model had to be redesigned from the ground up.

In order to be able to offer a technical solution again, we identified potential partners and organized the collaboration with an established InsurTech on the basis of a "beauty contest". Horn & Company also supported the new development of the platform as the technical product owner. For example, the platform also required the selection and connection of a comparator as an additional service provider. Based on a business case developed by H&C, the conditions of the B2B2C model were also defined and market development was planned. Another aspect of the business model developed by H&C was all operational processes. 

Benchmarking for optimizing the digital lead/advisory and closing tracks

Challenge

H&C was commissioned with the benchmarking of existing lead/consultancy and closing routes in digital insurance sales. The initial situation was that the routes were currently unable to fulfil expectations. H&C's task was to develop an evaluation grid and coordinate it with the stakeholders. In addition to the benchmarking, the deliverables were to include clearly defined options for further action regarding the revision of existing routes, development of further routes, etc.

Solution Strategy
Extensive benchmarking was carried out using the customized evaluation grid developed by H&C for the quality of digital lead/consulting and closing routes. On the basis of the additional analyses and interviews conducted, the importance of close support for sales partners in the marketing and routing to the closing routes became particularly clear. Some of the quick wins identified, in particular for optimizing the existing closing routes, were already addressed during the course of the project. As part of this project, H&C was able to create the necessary foundations together with the client in order to fulfil the expectations placed on digital insurance sales in the medium term.