Clearly insurers recognize, and are acting on, the potential of mobile to improve business performance. But at the same time they are missing some pieces of the mobile puzzle.
Apps, for example, are a vital component of a mobility strategy. A well-designed, intuitive store-front style app can delight a customer, whereas not having an app leaves a huge gap in the mobility strategy. Insurers in particular struggle with apps, when compared with other industries. As described in the Accenture Mobility Insights 2014 cross-industry survey, insurers are more likely than any other industry to encounter these challenges with apps:
- User experience issues (poor customer experience)
- Discoverability issues (users can’t find app or app can’t create traction)
- Operational issues (building and updating apps)
- Monetization issues (not hitting ROI)
- Data issues (lack of usage data)
Insurers launching clumsy apps that are difficult to find and don’t bring any return will find their overall mobility strategy struggling to survive.
Connectedness is another challenge for insurers. Cars and homes now can be “wired” to interact with mobile devices, and as the Apple Watch paves the way for robust wearables, the human body can be wired as well. These connections offer huge opportunities to insurers—around gathering customer data, creating proactive and insightful customer interactions, providing valued services in response to data from connected devices or opening new markets, to name a few.
Success with mobility is more important than ever for insurers. Watch for my next post on bringing it all together into a powerful mobility strategy.