How can you win young people as long-term customers—for a product like insurance that requires so much explanation?
Sales in the AI era is the central theme we’re exploring this year together with our network and partners. We’re approaching it from a wide variety of perspectives: Since early May, students at the Munich Risk and Insurance Center (MRIC) at Ludwig Maximilian University of Munich have been working with experts from our ITHM members LV 1871, Allianz, and the Provinzial Group to investigate how this new technology can support outreach, quote generation, and customer service.
The presentation of the results from the ITHM project course has now taken place. And we were deeply impressed—not only by the academic depth with which the master’s students explored concepts such as Next Best Offer, predictive analytics, and customer lifetime value, but above all by the highly practical and constructive conclusions they drew:
AI excels at many things—creating personalized offers in seconds, making processes more customer-friendly, or assisting with risk assessment. This gives sales representatives and brokers more time to focus on customer care—on a person-to-person basis. Above all, however, AI cannot work magic. Anyone who expects it to predict the future with absolute accuracy will be disappointed. Anyone who trusts it blindly may end up crashing and burning. And anyone who thinks every customer is equally tech-savvy is wrong—even when it comes to younger customers. When in doubt: ask! And: Explain the technology!
We're already looking forward to the next project course—after all, working together has become a tradition.
