Accenture Technology Vision for Insurance is an annual report highlighting the technology trends that will affect insurers in the next three to five years. The 2015 report emphasizes the emergence of a new economy characterized by collaboration and disruption, and enabled by digital technologies. Leading insurers are stepping outside the bounds of insurance to include digital businesses, customers and even devices.
Over the course of this blog series, I’ll examine the five tech trends identified in the 2015 report, beginning with personalization and the Internet of Me.
The Internet of Me
The Internet and the growing role of digital channels have enabled us to personalize our lives—from newsfeeds to movie recommendations, we expect tailored, relevant interactions. In addition, two factors are adding to the push for personalization. First, the proliferation of smart devices connected by the Internet of Things is shifting the way customers interact with businesses; real-time information enables different approaches to products and services. Second, insurers are no longer competing strictly within the industry on customer experience—digital leaders like Amazon and Google are defining the standard, and continually raising it.
When it comes to claims, customers expect personalized service and regular updates, delivered through the channels of their choice. Furthermore, customers expect to be able to seamlessly interact with their insurers through multiple channels.
In considering an omni-channel experience, insurers must recognize the distinction between online and mobile channels. Some customers may choose to interact with their insurers via phone or tablet only. An insurer’s mobile channel experience, whether via dedicated app or mobile web browser, should provide customers with similar functionality and quality of experience that they would receive through any other channel.
To help insurers harness the power of the Internet of Me, our report outlines several steps for a 100-day plan and a one-year plan. Register to download Accenture Technology Vision 2015 for Insurance (PDF).