Posted on March 3, 2015 by Darcy Dague
Across industries, the Internet of Things is forcing companies to re-evaluate how they do business and bring value to their customers. Within insurance, telematics has attracted considerable interest as a way to better understand customers, optimize premiums and mitigate risk. For example, Accenture research found that 77 percent of consumers would be interested in telematics to determine premiums . . .
Posted on March 2, 2015 by Michael Costonis
In their race to gain digital capabilities, have insurers have overlooked the critical role that the claims workforce plays? A digitally enabled claims workforce is not just a workforce with new tools and toys—instead, it is one that is driven to provide exceptional customer service, solve problems independently, and drive innovation and change for the company as a whole. In fact, fostering the cl . . .
Posted on February 27, 2015 by Cindy De Armond
Many insurance company executives are deeply involved in digitization. They are automating previously manual processes, converting transactions from a paper to an electronic basis, and employing collaborative technologies that link colleagues with each other and with third parties as needed.
That’s great – but it’s not enough. Too many companies stop there, and don’t reap the full benefits of th . . .
Posted on February 27, 2015 by Brian DeMaster
Transforming the onboarding experience requires six key capabilities, which I discussed last week. To get started, wealth management organizations should evaluate each capability more closely using the following questions:
Vision: Based on the key priorities for your organization, what aspects of client onboarding should your company strengthen?
Current State: Rate your company on each capabili . . .
Posted on February 26, 2015 by Kevin Meadows
The insurance industry talks a lot these days about being “customer-centric”. Yet very few industry pundits ever take the time to explain what being customer-centric really means.
In our view, real customer-centricity starts with a very basic premise: The insurer provides what the customer wants, rather than what the insurer wants to sell. This sounds elementary, but it isn’t.
Younger customers . . .