In an increasingly competitive landscape, there are many places that insurers can invest their money in pursuit of growth. And with emerging technology making it easier than ever to get information, there’s a fundamental shift in the way that consumers choose to interact with their world—and that includes insurers.
According to Accenture research, digital marketing and the mobile channel top the list of investments for growth.
Where is the money going for growth?
Compared to other channels, digital marketing and mobility are very new technologies. The impact of these technologies is undeniable, and is forcing insurers to rethink how they interact with consumers. Aside from emerging technology, there has been a shift in consumer preferences for how they receive information and buy insurance.
Creating mobile capabilities and improving digital marketing rank as the top two priorities for future investment by insurers over the next three years.
I see three key pieces to the puzzle:
- Mobility, and a desire to reach customers where they’re located, on preferred devices.
- Digital marketing and the ability to effectively segment and identify customers.
- Multichannel integration, making channels connect and talk to each other for a seamless customer experience.
Learn more about these topics in Channeling Growth: Accenture 2010 Global Survey on Multichannel Insurance Distribution.