Is the Pandemic Revving-up BFSI Disruptions? Here’s How Market Trends Analysis Can Help

Mar 19, 2021

Given the growing needs and dynamism in the financial services industry, market trends analysis has become a cornerstone to success for BFSI companies. Playing an undeniably important role in digital transformation, market trends analysis can help businesses shape the future by streamlining processes for claims, billing, underwriting, and customer management while providing evidence for accurate decision-making.

But can a one-size-fits-all approach help the financial industry navigate the new normal? Absolutely not! With a forward-looking vision, Infiniti Research has helped several leading banking and insurance companies upgrade and streamline their business operations by offering custom-built, market-specific insights.

Got a specific problem that you wish to address using advanced market intelligence solutions? We’re here to help you! Get in touch with an industry expert right away.

The Business Challenge: How COVID-19 Has Transformed the Financial Industry

The impact of COVID-19 on global financial markets is primarily felt through asset risks, market volatility, and declining premium growth prospects. Developed insurance market segments, including home insurance, life insurance, and travel insurance, are likely to shrink due to the economic slowdown. Due to many such pandemic-induced challenges, banking and insurance service providers are now looking to ramp up their transformation efforts by conducting an in-depth market trends analysis to stay focused on data security and regulation while fending their business from cyberattacks.

Top challenges facing the banking and insurance industry based on our market research:

  • Stable capital levels are poised to position forward-looking insurance companies to thrive in the new normal
  • The pandemic will prompt BFSI firms to quickly respond to megatrends using market trends analysis
  • The COVID-19 outbreak impacted all lines of business within the financial services market, prompting businesses to accelerate their digital transformation initiatives
  • Higher mortality rates dues to COVID-19 are affecting the bottom lines and business processes in the insurance industry

As a result, BFSI companies are struggling to meet their cost of capital, and business efficiency has barely improved over the past decade. While some lines of business have witnessed years of steady top-line growth, the life insurance and travel insurance segment in mature markets have been impacted by the pandemic.

Request a free proposal from our market trends analysis experts to learn more about our pricing policies and engagement models.

Therefore, as leading banking and insurance companies struggle to sustain growth, the pressure to boost business performance is becoming a top priority. Unlike other industries that have leveraged market trends analysis to capitalize on their investments, the insurance industry hasn’t witnessed a measurable improvement in the past five years. Adopting a more structural, financial market trends-based approach to business process redesign is required at the moment to move the needle and future-proof the business.

Market Trends Analysis in Insurance: How we can help

Infiniti’s market trends analysis solutions leverage proven methodologies and frameworks developed over decades of global best practices implementation in some of the world’s top BFSI companies. The uniqueness of our market trends analysis solutions stems from the fact that our research methodologies have industry-specific business dynamics built in to ensure the client gains access to accurate insights to address the unique needs of their business.

Our market intelligence solutions can help you identify the areas of strategy, processes, controls, systems, and visibility to re-engineer, plan and streamline your business while also helping you achieve your long-term strategic goals.

For more of our coronavirus coverage and its impact on the banking and insurance services industry, request more information from our market experts.

We’ve identified five golden rules for leveraging market trends analysis in insurance based on our research. It includes:

  1. Define your long-term strategic goals
  2. Take time to understand the dynamism in the market
  3. Stay away from intuitive decision-making and adopt evidence-based approaches
  4. Identify critical levers of change and target a minimum of two structural, process- or digital transformation elements
  5. Effectively manage transformational risks and establish metrics to gauge business success

Following the five rules mentioned above will accelerate business success and increase the odds of a positive outcome. To know more about market trends analysis and its business benefits, visit:

You’re just a click away from gaining comprehensive insights into our BFSI market trends analysis solutions portfolio. Request a free brochure now!

In our experience, leading banking and insurance service providers have shown speed and agility in responding to evolving market trends by redesigning their business models. Looking ahead, organizations must adopt a comprehensive, evidence-based approach to decision-making and proactively tackle disruptions. Therefore, to succeed in the new normal, banking companies must take advantage of market trends analysis and work towards redefining the future.

We help our clients make smarter decisions to achieve rapid business growth

Our strength lies in the unrivaled diversity of our international market research teams, innovative research methodologies, and unique viewpoints that merge seamlessly to offer customized solutions for your every business requirement.

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