A worrying result of the Accenture Mobility Insights Report 2014 is that insurers are lagging when it comes to investment—and thus in the drive to become customer-first insurers.
As I noted last week, it could be a bit worrying that insurers seem less likely to see mobile technologies as aids in generating additional income from existing customers, boosting overall enterprise profitability and st . . .
The digital era has given birth to a connected customer who has higher expectations than ever of his insurance carrier. In this series of blog posts, I’m going to explore what this means for the competitive landscape in insurance and for traditional insurance business models.
I’ll also share a few thoughts about what insurers can do to become more customer-centric and compete more effectively in t . . .
Much of the sharing economy has been attributed to Millennials, who grew up with the idea of sharing and on-demand access. Despite early expectations that Millennials would grow up and grow into the same consumption patterns as generations before them, there are some clear differences.
Consider that only 66 percent of Americans under the age of 35 own cars—that’s down from 73 percent in 2007. Als . . .
Insurance leaders today view data as among their most valuable assets—some even call it the lifeblood of their organization. Yet few insurance companies have mastered the concepts at the foundation of modern data management— ideas such as the mobility and portability of data, its structure and velocity, and data as a “saleable” product or monetization.
Fewer still are comfortable with these concep . . .
In my last post, I looked at how mobile apps provide new opportunities for P&C insurers to build better customer relationships. Now, I’d like to focus on the other trend that is rapidly changing consumers’ expectations of the customer experience they get from their insurance providers—the inexorable rise of social media.
Social media has shifted the balance of power from service providers to c . . .