October 23, 2020 – Dialog Versicherung had to complete its first year as the sole responsible company for business with independent sales partners in the German Generali Group, largely under Corona conditions. Nevertheless, the management board is satisfied with the development. Even an increase in sales seems possible. That was shown at a press conference on Thursday.
Last year the newly founded Dialog Insurance AG the brokerage business and responsibility for the independent sales of Generali Germany AG taken over (VersicherungsJournal 25.10.2018).
“We notice that it is working well.” This is the message conveyed by the Dialog CEO and Chief Officer Digital and Independent Sales at Generali Deutschland, Dr. David Stachon and Stefanie Schlick, Dialog board member and Head of Broker at Generali.
The two managers spoke at a virtual press conference in advance of the – because of the pandemic – largely digital DKM 2020.
Brokers send positive feedback
- Stefanie Schlick (Image: Generali)
The feedback from the brokerage, the independent distributors and the banking partners was “absolutely positive”, reported Schlick. Work now only has to be done on a few “little things”.
For example, the property insurance products taken over by Generali in the commercial sector still need to be adjusted in order to tailor them to the brokers’ needs. In the private customer business, this has already been done through price adjustments because it had been determined that these products were previously “not really among the top ten” on comparison portals.
In addition to product adjustments, Dialog is trying to “digitize everything that is possible” as part of the group-wide lifetime partner program so that the sales partners can concentrate on looking after their customers. That is why around 80 percent of all interfaces to partners are already there Bipro-suitable, added Stachon.
Corona consequence: art insurance via app
- David Stachon (Image: Generali)
Despite all the digitization efforts, empathy and emotions in dealing with sales partners and customers will continue to play an important role from the perspective of Dialog Versicherung in the future, he notes.
Therefore, as part of the corporate restructuring, the regional contact persons for sales have been retained and “communication at eye level” is a central concern.
The fact that the first year of Dialog Versicherung was extremely heavily influenced by the consequences of the coronavirus, as reported, proved to be an aggravating factor, but also partly beneficial in terms of digitization. For example, it suddenly became possible to take out art insurance via an app at very short notice, noted Schlick.
In terms of sales development, the virus had very different consequences. In particular, the motor vehicle business at times came to a complete standstill because no more cars could be registered due to closed registration offices and therefore did not have to be insured. After that, however, there was a strong recovery.
Increase in sales not excluded
Rather few or even positive effects were recorded in the year-on-year comparison in life insurance and in products related to living. Overall, Stachon therefore assumes that Dialog Insurance may even increase sales in partner sales compared to 2019 if the virus does not bring everything to a standstill again.
Less optimistic and very differentiated, he sees the future of independent sales due to the corona consequences. In his opinion, the medium-sized partners are particularly at risk.
On the one hand, they are not big enough to be able to bear the simultaneous burden of increasing regulation, digitization and now also Corona on their own. On the other hand, they are too big to be able to withdraw into a niche.
Dialog Versicherung is striving to support all of its partners as well as possible in this difficult situation. However, according to Stachon, another wave of consolidation is likely in the sales landscape.
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