Adopting a truly customer-centric digital strategy means understanding customer needs and then developing a new operating model to provide the types of products, services and experiences the customer wants. Simply digitizing existing business processes and practices is a short-term solution at best.

A robust digital platform

To achieve first-mover advantage in the five core elements we discussed in the previous post of this series—customer relevance, relationships at scale, seamless experience, inherently mobile and naturally social—insurance providers must build a robust digital customer-centric platform. But to do so, they will need a well-defined road map.

A well-defined road map

The journey to a mature digital operating model often consists of four stages:

  1. Stand-alone insurer. A few digital systems are available, but they are limited in their features and flexibility.
  2. Connected insurer. Insurers are getting the basics right and starting to integrate some channels to reach customers.
  3. Interactive insurer. An integrated multichannel architecture and sophisticated use of analytics improves the customer experience and the sales process across the different channels.
  4. Holistic omnichannel insurer. Insurance is available “where you are at the precise moment you want it” using the power of mobile and social.
The road map to digital excellence is a four-step journey: standalone insurer, connected insurer, interactive insurer, holistic omni-channel insurer
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The transformation to reach the fourth stage will take time, but once achieved, the insurer will be positioned to take advantage of multiple channels and to engage customers in a way they never have before.

In my next post, I will talk about opportunities to retain younger customers.

To learn more, download: Accenture 2013 Consumer-Driven Innovation Survey: Playing to Win (PDF, opens in a new window) or take a look at our data visualization tool, which allows you to tailor the survey results by line of business, age and/or country.

To read other parts of this series, visit:

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