Customer expectations are higher than ever in today’s fast-paced, digital-first world. Influenced in part by companies like Amazon, consumers now demand seamless, personalized, and efficient experiences across all services, including insurance. For brokers, adapting to these evolving demands is crucial for staying competitive and building stronger client relationships.
While digital services are often preferred by younger demographics, research from Accenture’s Global Insurance Consumer Study reveals that even older consumers are leaning toward digital solutions. In fact, 71% of respondents expressed a preference for online chat or video insurance claim processes, signalling a clear shift away from traditional in-office visits.
In a recent conversation with Insurance Business, Vincenzo Ciampi (pictured), senior vice president of global client experience at iA Financial Group, shared valuable insights on how brokers can stay ahead of the digital curve, meet evolving client demands, and foster deeper, more meaningful connections.
Consumers now expect every interaction to be effortless and easy to navigate. For brokers, this means creating user-friendly digital experiences that prioritize personalization. A key part of this equation, according to Ciampi, is effectively leveraging client data.
“The real key to understanding your clients is understanding their data. The more you can automate and understand that the more you can provide clients with solutions that are relevant to them.” By leveraging data, brokers can offer timely and personalized solutions based on significant life events, such as birthdays, marriages, or the birth of a child.
For example, Ciampi suggested that a client celebrating a birthday could be prompted to explore updated coverage options, or a new parent might receive personalized recommendations for life or disability insurance to help secure their child's future. While obtaining proper client consent is essential, a well-structured data strategy enables brokers to offer the right solutions at the right time.
The good news is that consumers are increasingly open to sharing personal information in exchange for more tailored services. According to an Accenture study, 58% of respondents would be willing to share “a lot” of personal data with insurers if it meant receiving advice personalized to their specific needs.
However, leveraging client data effectively requires proper integration within your brokerage to manage and utilize this information seamlessly across all communication channels—whether phone calls, emails, or in-person meetings. Without this integration, clients may become frustrated by having to repeat the same information at multiple touchpoints, hindering their experience and trust in your services.
As Ciampi explained, “The last thing you want is for someone to communicate with you on Instagram, and then when you call them, you have no idea what they discussed. We strive to avoid these gaps in communication by thinking about the client experience holistically.” Ensuring smooth data flow and integration helps deliver a more efficient and cohesive service to clients.
Equally important in providing personalized services is ensuring the highest levels of security when handling client data. “Every company needs to be concerned about cybersecurity and making sure their platforms have no issues—no hacking, no phishing, etc. The security around everything online has to be top-notch,” said Ciampi.
This focus on security is critical, especially as data shows that consumer trust in how insurance companies handle data is decreasing. Accenture’s study concluded that 76% of respondents are concerned about how insurance companies use their personal information—up three percentage points from previous years.
With the increase in cybercrime and ransomware attacks in the Canadian market, brokerages must work diligently to retain client trust. It’s not enough for businesses to have strong internal data protection measures; brokerages must also ensure that any third-party partners they collaborate with to manage or leverage client data adhere to the same high standards of security. This ensures that clients' sensitive information remains protected at all stages, safeguarding your businesses reputation.
Ciampi provided a helpful four-step guide:
