Tomorrow’s Consumer Needs

Key Objectives:

• consider how customer needs are evolving
• potential impacts on the consumer environment, for example, we may consider factors such as:
  • technology
  • the Economy
  • demographics,
  • intermediation
  • political environment
  • consumer attitudes and behaviours (e.g. to debt, risk, value, risk sharing, confidence in current providers; use of social media)
  • regulation (capital regulation, sales regulation, pricing regulation - test achat)];
• how products would be designed to meet customer needs if we were starting with a blank sheet of paper
• the potential to meet customer needs with offerings in a non traditional way (which could be provided by non traditional insurers as well as current insurers) – e.g. if a different risk pooling mechanism was devised
• how consumers could best be engaged with these new products; and so in summary
• how insurers could potentially react to meet these revised customer needs.

Outputs:

• Gazing into the crystal ball: Tomorrow's consumer needs (Life Conference 2015)