Recent Release | 14 Nov 2021

Becoming a risk concierge: From insurance provider to customer companion

Thought Leadership Team

Oxford Economics

Oxford Economics, in partnership with IBM’s Institute for Business Value, surveyed 1,000 insurance executives and more than 9,000 insurance customers globally, to examine the role, capabilities, and expectations of a risk concierge – insurers that evolve from their sales role to become risk advisors.

Insurers are realising the potential of tailored approaches when it comes to customer satisfaction, offering resources and personal risk advice. This bespoke service has proved so valuable that it has helped launch financial firms toward success. Risk concierges are also assisted by an increasing customer-focusing technological investment, which helps personalise a customer’s journey through AI. It is not enough to digitise existing processes, as most insurers did before the pandemic. A true investment in cloud and AI must be made to become a successful risk concierge.

About the team

Our Thought Leadership team produces original, evidence-based research made accessible to decision-makers and opinion leaders. Principals for this project included:

Tom Ehrbar

Senior Editor, Thought Leadership

+1 646 668 5794

Tom Ehrbar

Senior Editor, Thought Leadership

New York, United States

Tom Ehrbar sits at the centre of the editorial and production flow for all Thought Leadership studies, overseeing the firm’s primary research activities and managing the group’s extensive global editorial network of more than 500 researchers, writers, and analysts. Tom has worked on a range of research programmes, from global talent and diversity studies to surveys of financial advisors and wealthy investors to global country risk indicators.

Tom joined Oxford Economics in 2012 after two decades at the Economist Intelligence Unit (EIU), where he managed a team of editors focused on cross-border trade and finance. While at the EIU he also contributed to client research papers on topics ranging from a review of labour trends in the Mozambique mining sector to the prospects for private equity in Latin America. He is the editor of Business International’s Guide to International Licensing (1992). Tom holds a BA in English from Kenyon College.

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