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Shifts in the purchasing behaviour of clients is creating an opportunity for both brokers and the wider insurance industry.
William Gomez, broker relationship leader, general insurance at Zurich Australia, said that the industry has a chance to shift purchasing behaviour as technology becomes more prevalent.
“There’s a real opportunity to shift purchasing behaviour away from a price-only focus and towards risk advice and value-added services,” Gomez told Insurance Business. “As technology moves into different parts of the insurance value chain the role of people will become much more focussed on strategy, advice and risk mitigation.”
For the industry at large, Gomez said that both insurers and brokers can become “trusted advisers” for their clients and add value through “specialised industry and occupation-specific risk advice.”
“The digital age means customers have a wealth of information at their fingertips, but sometimes all of the choice and options can be overwhelming,” Gomez continued. “This presents an opportunity for insurance professionals to provide guidance and help customers understand what would suit them best.
“Insurers also have a role to play both in terms of making transactions with clients more efficient, and helping educate customers on managing existing risks, as well as new and emerging ones.”
A passionate rugby league fan and player, Gomez currently plays for a combined Latin American heritage side, called Latin Heat, as well as currently captaining the Ecuadorean XIII rugby league side in Australia.
Describing his career in insurance with a famed quote from the movie Forrest Gump, “life is like a box of chocolates, you never know what you’re going to get,” Gomez said he believes the future of the industry still looks positive.
“The thing I love most about the insurance industry is that it is a ‘people’ industry, and as the world becomes more complex and unpredictable there’s a big opportunity for broking and insurance professionals to build trust and confidence, and help their customers realise their potential,” Gomez continued. “I believe the future for the industry is very bright.”
