New Markets
New markets refers to the identification and pioneering of new insurance markets in cooperation with innovative financial service companies.
Some typical examples:
- UK: enhanced annuities and critical illness
- Middle, Far and South East Asia: (Re-) Takaful products
- Germany: Senior Citizens Market
Success Factors:
- Ability to identify target customer groups and products
- Specific solutions supported by state-of-the-art underwriting systems
- Innovative concepts fulfilling an uncovered demand in the market
- Strategic and entrepreneurial partnerships; Alignment of interest
- Tangible financial advantage (first mover)
- Internationalisation possibilities (export into other markets)
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