The purpose of this research paper is to discover the existing trends in the insurance market and to identify the changing customer demands concerning motor and household insurance in the light of digitalization. Additionally, this paper aims at comparing the emerging trends with the actual customer demands and gives recommendations about how changing demands might influence insurance companies.

In order to gain an overview of the topic and identify the most recent trends in the insurance industry, secondary data was collected. In a second step, to grasp the insurance customers’ needs and wants, the authors chose to collect quantitative data in form of a survey. Based on the survey answers, qualitative data research was conducted in form of interviews aimed at understanding the reasons behind the participants survey answers and therefore elaborating the specific demands of insurance customers. The demands that were established during the research were then compared to the emerging trends.

The results indicate that the increasing digitalization indeed seems to change and create new customer demands but also offers various opportunities for insurance providers to increase customer value. Due to the individual communication channel demands of the different age groups, the authors recommend offering and developing faster, simpler and more transparent online channels while simultaneously providing in-person consultation. A further identified demand are personalized insurance products such as telematics for motor insurance clients or temporary on-demand insurance solutions for special occasions. Furthermore, a demand for virtual assistance for complex topics was found. This demand might even increase in the future, but current insurance providers seem to lack a suitable digital solution. In order to meet these emerging demands and exploit the new value creation opportunities, the authors recommend collaborating with insurtech start-ups. Because of their flexible business models and extensive know-how in technology but yet limited reach, they appear to be rather an opportunity than a threat for the incumbents. These findings give Allianz Suisse an insight into the current demands of insurance consumers. And thus, help them to understand their current and potential clients.