How to leverage digital tools to gain customer behavior insights
COVID-19 and the associated risks and restrictions – such as obsolete business models, archaic distribution models, complex and outdated operating environments that hinder decision-making, etc. – have driven changes in the behaviors of L&P customers, be it employers, businesses, advisers or end users. It has changed the ways they operate, along with their economic environment. When an organization experiences change and uncertainty at this level, it is good to consider stress-testing and review every aspect of the business to ensure it can operate most effectively. Hence, it is time for L&P companies to take advantage of this transition and assess five key focus areas – their business model, customer proposition, distribution channel capability, accelerating trends and enterprise workplace proposition – to build an organization that is better positioned to compete with others and not face a setback even in uncertain times.