Digital has matured from emerging technology, to IT concern, to enabler of high performance. It has become a part of how consumers shop, sell, rate, advise and engage with other consumers and companies. Customer expectations are now informed by their interactions with all companies—not just their experiences with insurers.

For example, the Accenture Consumer-Driven Innovation Survey found that:

  • At least 71 percent of insurance customers would be interested in buying insurance online
  • 67 percent of insurance customers are interested in new services being offered on mobile devices
  • 48 percent of insurance customers say they rely on social media comments when they are buying insurance

In spite of this, infusing digital across all aspects of the insurance enterprise remains challenging. In particular, Accenture research found that across industries, change management leads the challenges in the shift to digital.

Q: What are the most significant challenges you face when implementing investments into digital business initiatives (such as cloud computing, data analytics, machine-to-machine communication, social and mobile)?
Source: Accenture, CEO Briefing 2014 | The Global Agenda: Competing in a Digital World

CMOs have much to contribute to the digital shift, given their deep understanding of their company’s brands, customers and products. It’s time for CMOs to influence and shape the conversation. To help them do so, my colleague Julio Rivera and his team have outlined seven steps to help CMOs help their organizations become more digitally savvy and customer-centric.

For more information:

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