Fidelity bank banner Camano banner
Africa poised to become digital insurance leader, says Allianz CEO Oliver Bäte

By News Express on 26/07/2017

Views: 795


Oliver Bäte, CEO of Allianz SE, on Monday opened the 44th annual Insurance Conference in Sun City, South Africa, with a keynote address on the conference theme “Disrupt, Debate, Deliver”. In his speech, Bäte addressed the profound transformation of the insurance industry wrought by digitalisation.

He said: “In today’s fast changing world, it’s critical to innovate quickly and to change course rapidly if necessary. The insurance industry, like other customer service industries, is transforming because of the all-encompassing impact of digitalisation on our lives. Customers have new expectations, a growing number of disruptors are taking the stage and new megatrends, such as artificial intelligence (AI), voice-based smart assistants (i.e. ‘Alexa’), telematics, wearables and drones are fundamentally changing the traditional insurance model.

“We are completely rethinking the way we serve our customers, not least because of the competition posed by disruptors from the fin-/insuretech space, who have an impressive facility with mobile technology and analytics. Today’s customers will choose a product primarily because it’s easy to use, transparent in terms of price and quality, and personalised – and because it’s available to them via the digital channels they want it from.”

“Digital comes naturally to African customers

“While traditional markets, such as Europe, are struggling with their digital transformation process, Africa is digital by nature. Mobile is the fastest growing sector and innovation enabler on the continent with an expected 1.2 billion African subscribers by 2018.

“By leveraging the internet and mobile penetration, African countries can leapfrog innovation. African customers will rightfully demand and drive insurance innovation in Africa as they expect offerings and channels to be fully digitalised. This, and the fact that rules and regulations are favorable for innovation in financial services, puts Africa in a great position to become the digital insurance leader of the future.”

“Insurance companies have much to offer to the African economy. Digitalisation allows us to gain considerably better insights into our individual and institutional customers and thereby to better serve their needs. We believe deeply in Africa’s huge long-term growth potential and we will leverage our global footprint and extensive expertise to strengthen our market position and to attract African talent,” Bäte said in closing.

•Photo shows Andreas Berger, Allianz Global Corporate & Specialty (AGCS) Chief Regions & Markets Officer; Delphine Traoré Maïdou, Allianz Africa COO;  Oliver Bäte and Coenraad Vrolijk Allianz Africa CEO.

Source News Express

Posted 26/07/2017 11:15:59 AM

 


 

CLASSIFIED ADS

 

You may also like...
Buhari sends delegation to Bauchi over windstorm, fire...

NASME trains army families on skill acquisitions

Pope may shut down 163 Nigerian Catholic parishes...

Mob kills soldier

Over 100 countries set for World Economic Forum...

2019: Why youths are becoming despondent, By Jerome-Mario...

Buhari raises hope in Christmas Message, says better...

Canoe hits the streets with #alivewithcolour

Adeleke raises alarm, says APC, federal forces plotting...

FG to stop production of Nigerian movies and...

Offa robbery: IGP directs service of summons on...

Miyetti Allah dares Middle Belt youths, dismisses quit...

 

Latest News Election Tribunal: The hurdles before Atiku — Lawyers North-East, North-Central battle for senate presidency Lagos Govt defends racist Chinese restaurant Fireworks in Fayose’s trial as judge, EFCC’s lawyer clash Ex-football star arrested for drug trafficking NDLEA uncovers another drug factory in Enugu INEC setting dangerous, evil precedence with inconclusive polls — Dogara NDDC steps up partnership with EU on sustainable water projects Imo workers reject Okorocha’s electronic payment Three dead as robbers, police clash in Lagos Court orders arrest of Bayelsa politician, two others over abduction of DCP Okunola 2019 elections, a rape of democracy, says Labour

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (460,761 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (410,327 views) Shameless Genevieve Nnaji exposes breasts in public (346,266 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (297,164 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (261,477 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (236,426 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (222,528 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (204,237 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (192,572 views) 10 cars more expensive than Jets (177,128 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (176,867 views) Lagos plane crash: Journalist releases victims’ names (175,726 views)

 

NLNG call for entries

CBN banner

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (81) Business & Economy (4,093) Business Verdict (60) Columnists (1,007) Complaints & Requests (95) Enterprise & Opportunities (208) Entertainment (596) Features (725) Global Business Monitor (327) ICT Monitor (27) International (3,200) Interview (174) Live Commentary (28) Love Matters (153) Maggie's Blog (189) News (44,075) Opinion (1,204) Pidgin (17) Politics (10,287) Religion (960) Sports (1,925) Stock Watch (39) AMA & Al Jazeera Global Update

 

 

 

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera