Change of Times
To have a strong core for digitization is recognized by Fidelity United and it is being developed in parallel to an active strategy that empower its Brokers, Partners and Client’s with various online portals and products to meet with insurance requirements. Launching of B2C (Business To Client), Partner Campaigns and Bundled Products will promote more new business opportunities. Simultaneously Fidelity United are working on specific Loyalty and Affinity schemes for strategic clients that will be beneficial to both the client and Fidelity United on a whole portfolio basis.
Working in parallel with traditional and developing necessary technologies, Fidelity United’s growth strategy seems to serve its market needs while also increasing their digital presence. This Strategy will outrun other insurers who has not implemented a similar strategy yet.
What comes after Coronavirus?
Most industries are keeping an eye on what is next, in order to be ready. Not sure if September 2020 is so optimistic to see a cure in the market, since there have been no confirmations yet on any testing nor their outcomes.
If that happens, will there be a new approach on how businesses are done, or will the market be stagnant, approaching another recession phase?
Nothing is clear yet with plethora of speculations roaming. Only time will reveal that.
Insurers who are focusing on digitalization has discussed new approaches to be adopted, but development of these trends were not moving as fast as the speed of technology and change.
Any good outcome gained in this critical time was related to investment allocated for digitalization.
AFW were well prepared and up to the speed of technology, even before the lockdown, and hence they have seen real positive outcomes and results. For them, what come after the crisis is “We expect to be a leaner, meaner and more streamlined organisation at the end of the crisis and in a strong position to grow and thrive as the market returns to normality.” Said Zawadzki – AFW
For Fidelity United; they have proved to be agile, accessible and quickly responsive during the Corona virus. “This is exactly what any partner / customer is looking for. We have not wasted a single minute to re-visit our processes. We have also reviewed our plans and re-set our strategy to go back stronger. We will make sure to emphasize on our strength and capabilities to grab potential opportunities and support our partners in their day-to-day business” said Adhami.
What seems to be slow in the lockdown, needs quick actions and fast movement in order to achieve and succeed in addition to a quick actions of most insurers in order to gain presence in the digital world.
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