NMG’s Insights practice runs interview-based studies across three core ‘buyer’ groups:
- Corporate: NMG runs studies focused on corporate and institutional buyers of reinsurance, asset management and corporate benefits.
- Intermediary: these studies focus on retail and corporate intermediaries advising on life insurance, wealth management, asset management, employee benefits and health.
- Customer: these studies shed light on consumer segment demand attributes, holdings and allocations, decision behaviours and perceptions of products and providers.
Through our established programmes and bespoke engagements, NMG currently conducts more than 100 insights studies every year, covering life insurance, health insurance, wealth management, asset management and reinsurance, across every major financial services market globally. Each year, we interview in excess of 1,500 life and health insurers, more than 2,000 financial advisers, brokers and agents, as well as sovereign investors, pension funds, non-financial services ‘affinity’ brands and end-customers.
To complement our insights and analytics offerings, we are able to leverage on our network of companies including the Flaspöhler Research Group. Flaspöhler has conducted surveys in 95 countries and a dozen languages and serves clients across a broad spectrum of industry segments including life reinsurance, non-life reinsurance, corporate and commercial lines insurance, and managed health care. Click here to read more about Flaspöhler.
NMG’s Insights studies differ from anything else on the market, in that they:
- Are designed and delivered by consultants with deep industry knowledge
- Involve a high degree of client interaction through face-to-face interviews with NMG consultants and associates
- Access the most important key accounts, and influence the views of these buyers over time
- Provide analysis that can be segmented down to individual key account reports/scorecards
- Adopt a consistent methodology and support learning across markets and segments
Our Insights Programmes are established studies based on structured interviews with key buyers as a basis to assess industry trends, competitive positioning and capabilities, and drivers of competitive success.
>> Read more
Established programmes exist in retail and corporate life insurance, wealth management and reinsurance across Australia and New Zealand, Asia, Europe, Middle East, North and South America, and South Africa. Our Insights Programmes are refreshed annually.
Insights Programmes are used by reinsurers, insurers and wealth managers within either a point-in-time consulting engagement or an ongoing (multi-year) agreement as a performance management tool (with results often embedded in management scorecards and corporate KPIs).
>> Click here to read case studies
Challenge: A world leader in alternative and direct distribution of insurance products partnered with NMG to examine and challenge the conclusion that the global life insurance industry faces demographic, economic, socio-political and consumer behaviour trends that could dramatically curtail future growth.
Approach: Fieldwork included online interviews with 8,000 consumers across 14 key life markets. The coverage was global, with the 14 markets accounting for around 85% of global life insurance risk premiums and approximately 80% of global GDP. The sample and methodology complied with best practice for each market based on a nationally representative set of demographic and economic parameters.
Results: Looking across both developed and emerging markets, the research identified five key and often interlinked themes as emerging customer trends that insurers need to understand.
Challenge: Working for the UK regulator, this study aimed to understand the motivations, needs, and decision-making ability of non-advised consumers within the retail investment market.
Approach: 48 face-to-face depth interviews and six workshops with consumers who had recently bought an investment product via a non-advised channel. Discussions focused on the consumer journey when purchasing their product, understanding the product and service features considered and consumer understanding of advised vs non-advised provision.
Results: A detailed report and full debrief provided our client with a comprehensive understanding of the main types of non-advised consumers in a post-RDR market, the customer journey, including channels, influencers, alternatives considered and limitations in the decision-making process. This provided guidance on what can be done to help facilitate better outcomes for non-advised consumers.
Challenge: An international asset manager has engaged with NMG to deliver a series of reports on the Middle East and global sovereign asset management industry.
Approach: NMG leveraged its network of contacts to develop an objective view of the Middle East and global sovereign asset management industries, based predominantly on face-to-face interviews with key investment officers within these major asset management institutions.
Results: The reports position our client as a global thought leader; our frameworks and key themes aim to translate the complexity of the asset management industry into digestible insight for readers.