Your customers want what they want. They want it now. Every time. Just like the patrons of other business categories, insurance company policyholders can be pretty demanding. That’s because they have options. They have other places to go if they don’t get exactly what they want from your company in terms of product selection, price, claims service, and overall customer experience.
The good news is that insurance acquisitions done right can handle the multiple challenges posed by competitors who have what you lack. You can claw your policyholders back — and gain new ones — when your company is part of the right strategic acquisition. These partnerships are instrumental in enhancing insurance services, increasing brand loyalty, and delivering tangible insurance service improvements that benefit your clients and your bottom line.
So it’s no wonder that mergers and acquisitions in insurance are so prevalent today and will be into the foreseeable future. In the long run, it’s all about the customer. It always has been.
How Strategic Acquisitions Are Transforming the Insurance Industry
Your customers and prospects are used to getting everything they need through seamless digital experiences — and they expect no less from their insurer. Meeting these expectations is essential to delivering an excellent customer experience in insurance and building long-term loyalty.
You can respond by putting your company on the market for a strategic acquisition by a larger insurance company with a strong brand, enhanced customer services, and expansive product lines. You can even benefit local markets as community choice expands to include your dynamic new venture.
The Role of Insurance Acquisitions in Expanding Product Offerings
Insurance changes with the times. It has to. There were popular lines of horse and buggy coverage before cars came along and put auto insurance on the map for the first time. Health insurance products change as innovations in medicine continue to alter the landscape for consumers.
Some products are described in language that didn’t even exist a relatively few years ago. Consider how bizarre such terms as cyber liability and cybersecurity coverage would have sounded just 20 years ago. Like something straight out of a science fiction novel.
How Mergers and Acquisitions Foster Innovation in the Insurance Market
As the world changes and evolves, your insurance product line must do the same. If not, it will gradually grow irrelevant and be ignored by your customer base. That’s why larger insurers have research and development and marketing operations that do nothing but track cultural shifts, innovate new products, investigate and manage risk, set prices, and launch new inventory items that customers want. As your brand grows, so too does your company’s reputation.
Without such internal innovation resources, your inventory gets stale, and you fail to meet the demands of your local marketplace. But by inheriting these advantages in a fruitful merger and acquisition alliance, your company stays at the forefront of innovation and customer-centric insurance.
Streamlining Claims Processes and Support Services
Once again, your customers want what they want — and when they want it. They’ve gotten used to having the ability to hit a few keys on their laptops or phones to gain instant user satisfaction. That’s why your company must stay swiftly responsive to their every expectation and demand.
Today’s technological advancements in the insurance industry — innovations known collectively as insurtech — make that happen. But only if you’ve matched forces with a company that has made the significant investments necessary to be at the leading edge of the new insurtech world.
These new digital tools can include automation to run routine tasks in claims processing, chatbots and digital assistants as a 24/7 communication option for customers whenever questions or needs arise, and blockchain technology powering a more secure environment for the company and its customers.
You’ve also got artificial intelligence and predictive analysis to assess risk, detect fraud, set rates, and process claims.
These and other digital technologies of tomorrow might be well beyond the time investment and financial resources of smaller companies like yours, but instantly in the tool belt of a company that has inherited the expanded resources of a larger merger and acquisition partner.
How Confie Uses Strategic Acquisitions to Strengthen Its (and Your) Market Position
As the nation’s leading provider of personal lines insurance coverage, Confie has welcomed hundreds of agencies like yours into our fold. We have the strength of locations coast to coast.
To succeed, businesses large and small must take advantage of their strengths and competitive advantages. That’s your strategic viewpoint, and it’s ours as well. We recognize, as you do, that in a fast-moving world with constantly evolving technology, standing still is falling behind.
We grow our enterprise through targeted business expansion in insurance, acquiring high-performing agencies like yours to extend our reach and impact across local markets.
Through a merger, your company and ours will drive measurable insurance market growth together. As the Confie footprint expands, your customers will benefit from broader access to trusted carriers, improved service, and a deeper product catalog.
It all adds up to a greater shared audience of satisfied policyholders, and the quick growth of your customer base — a big plus for all of us.
Enhancing Customer Experience Through Acquisition with Confie
Summing up our proposal, being acquired by Confie will expand your corporate footprint, introduce you and your customers to a robust product line that will deliver positive customer impact, and gain you a winning sales pitch with distinct advantages over your leading competitors.
Would you like to know more about the many advantages that can be gained through alignment with Confie, an industry leader? Can you see a new digital toolbox of customer-centric technologies and a generous roster of brand-name insurance products being instantly advantageous?
Call us at (714) 252-2500 or contact us today if you’d like to explore a possible collaboration that will upgrade your company’s marketplace position.
