The Financial Services sectors in Turkey are developing fast spurred on by the fact that around 90% of all Insurance companies and Banks are now owned by multi-nationals. Regulation is being applied constantly and the competition is tougher than ever. However, the traditional sources of distribution, Agency & Brokerage, are now becoming hugely expensive and difficult to manage. Pension regulation in particular is forcing Pension companies to invest more in Bancassurance and look for new ways of distributing the product.
Alternative distribution covers a range of different methods where an Insurance company or Bank can reach their customer directly (or indirectly) in a cost effective way that gives them more control of the sales and after sales process. These methods can include Call-centers, Online sales, partnerships with other retailers, direct marketing and a combination of all these mentioned.
However, certain products are only suitable for certain methods and it is very easy to upset your current distribution channels if not handled correctly. Also the customer experience can be negative. Shaw International can help you think through the process, set objectives, analyze your current method and provide solutions to maximize your results.