INFORMING A NASCENT INDUSTRY
AMI’s market research and competitive intelligence helps Insurance companies develop compelling insurance products and minimize competitive risk in a high growth sector.
Data to Drive Development
In most insurance sectors, the greatest competitive threat to insurance providers is buyer ignorance, fear and complacency. The seeds of market demand are still being sown in Latin America where market penetration remains nascent at best with plenty of upside growth potential. In property and casualty, insurance penetration rates in LatAm are near the global average, thanks to the ever-present risk of earthquakes and hurricanes, at least in some jurisdictions.
However, Latin America’s life insurance market remains woefully underdeveloped at one-third the global penetration rate and one-fifth the rate of the most mature markets (Japan and Western Europe). Building market faith in life insurance is a generation-long process that requires constant monitoring of the buyer’s perspective and the best practices of competitor providers.
Review AMI case studies from our Insurance practice to get a deeper sense of our capabilities.
Helping Insurance Providers Compete in Latin America
Product development is an important challenge for insurance providers in Latin America, across all insurance product categories. How insurance is packaged, priced and marketed needs to adhere to the different levels of market maturity, customer cashflow restrictions and claims needs found in every customer cluster in the region.
Customer-focused research, competitor best practices analysis and a keen understanding of the regulatory environment are but some of the ingredients brought by Americas Market Intelligence (AMI) to the product development process of our clients.
In more mature insurance categories, competition can be fierce and the battle over control of international brokers can be taxing on insurance providers. AMI helps insurance companies set up and execute an ongoing monitoring of the competition to keep their clients price-competitive and continuously distinguishing their full service offering from the rest.
How We Can Help You
Since 1997, Americas Market Intelligence (AMI) consultants have completed more than 50 insurance sector client engagements in areas including:
- Health insurance
- Life insurance
- Property & casualty
- Travel insurance
- Claims management
Explore Our Insights
regarding LatAm trends
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