FMG is a mid-size, non-life insurer in a mature insurance market (New Zealand). It has high member retention, a strong net promoter score (NPS), and has won many industry awards for customer service.
To understand how digital services could improve FMG’s operations and serve members better. The company was “totally greenfield” in developing its digital services. Specifically, FMG wanted to learn how other cooperative/mutual insurers had structured themselves before and after introducing digital services, how they had introduced those new services to customers, and about the related support structures they had developed. More generally, they wanted to hear about other ICMIF members’ experiences in digital services in order to evaluate their own progress and consider how to manage any potential challenges that lay ahead.
With ICMIF’s recommendations and introductions, a group of senior managers from FMG visited four fellow ICMIF member companies located in three regions: North America, Europe and Asia.
As a result of the visits, FMG was able to:
- Identify the most suitable ways to launch their digital services to customers
- Understand how quickly it wanted to scale up its digital services
- Gain reassurance about system choices it had already made
- Identify the “next big thing” to meet customers’ expectations
- Benchmark its own progress in relation to industry trends
- Learn how external partnerships can support innovation and bring in expertise
- Evaluate their digital services support system requirements more accurately