How to Beat Amazon at Customer Experience

| April 16, 2019

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Amazon just entered your market, acquiring a competitor in your product category and bringing all of their technology, customer experience and logistics capabilities to go after your customer. How will you stay competitive? Grocery stores found themselves asking that question in August of 2017 when the giant online e-commerce platform acquired brick-and-mortar grocery chain Whole Foods. Insurers have been asking the question, too. It’s been a popular topic of conversation at insurers and at industry conferences over the past few years. A recent Harvard Business Review article took a look at how some grocery store chains are staying in the game, “What the Grocery Stores Holding Their Own Against Amazon Are Doing Right”. Insurers can learn from their observations as competition fueled by emerging technology and insuretechs is increasing from both traditional and new entrants to the insurance market. First, they mention that major Amazon grocery competitors are driving down operating costs and introducing new business models with new delivery capabilities, including some non-traditional approaches using online and emerging technologies. This is analogous to the priorities in the insurance market in North America.

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RAK Insurance

Ras Al Khaimah National Insurance Company (P.S.C) trading as RAK Insurance is a Public Shareholding Company incorporated in 1974. The Company is listed in the Abu Dhabi Securities Exchange (ADX) and RAK Bank is the major shareholder of the Company's authorised and paid up capital of AED110 million.

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