Customer Engagement

Insurtechs – friend or foe of insurers?

How often have you heard the thought leaders claiming “this time it is different – this time, the insurance industry is REALLY being disrupted.” The latest chapter is the insurtech business – flexible, young startups, using innovative technologies and cool new gadgets. They often find and exploit inefficiencies in the insurance value chain, and their […]

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Is data gold, or your kryptonite?

If you are an insurer, ask yourself this question: Are your customers sharing data with you? (If you aren’t you probably are a customer of insurance, so just ask it the other way around.) Most likely, the answer is “not if they don’t have to”. Why is that the case? Is it a privacy concern? Don’t […]

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What will it take to reinvent financial services?

We’ve been long saying that financial services firms today are undergoing a radical transformation. From pressures around data security, a constantly evolving regulatory environment, and disruptive new players (insurtechs)—all amplified by cost pressures and diminishing margins—it’s clear that business models need to quickly adapt. To further complicate the landscape, customer expectations continue to evolve, as […]

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How to Create Industry-Leading Digital Customer Engagement

At Amplify 2016, I attended several insurance-focused sessions, including hosting an industry dinner. I came away from the conference with three key observations around digital customer engagement: Insurers are eager to use mobile to initiate and sustain industry-leading digital customer engagement. The trick for insurers is seamlessly merging a customer‘s various digital and physical interactions […]

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Cognitive Computing: A Natural Fit for Personalized and Engaging Interactions

As pressure grows on insurance marketers to produce quantifiable results, they are reassessing how they create appealing products and engaging experiences to attract customers in the constantly evolving digital landscape. I recently had the opportunity to facilitate a roundtable event with insurance marketing executives, and three common themes emerged. First is the imminent spike in […]

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Evolve or Die! How Insurance is Being Disrupted!

Connected millennials, empowered consumers, technological innovation, digital distribution, and new competitors — these are all forces for change in the insurance industry. But, what do they mean for the future insurance services? Buckle up! It’s likely to be a bumpy ride! First, the forces for change transforming the insurance industry are likely to translate into […]

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Millennials: The Insurance Customer Has Changed, Will You?

What is the single largest force disrupting insurance?  Millennials! They’re empowered, connected, and leading the charge for change! So, who are they? What do they want? Why do insurance companies have to change to serve them?   Most definitions say Millennials (aka Generation Y) are young adults from ages 18 to 34. They account for […]

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Which Innovations To Think About?

Our best wishes to you for the New Year as we enter 2016, which we at IBM look at as not just a new year but the start of a new era … the Cognitive Era. You will be hearing more from us on this subject as we go through the year, and I think […]

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Do You Trust Your Insurance Company?

Insurance might not be the oldest profession. But, the idea does go back to ancient times. Some say that the concept of sharing risk began 5000 years ago when Chinese merchants started mixing their cargoes together to distribute each merchant’s goods across multiple ships. Of course, the downside was, if a ship went down, it […]

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Do You Have a Customer-Activated Ecosystem?

Let me tell you a horror story. An insurance horror story. I came across this account on the Internet. So, whether or not the details of the tale are completely accurate is unsubstantiated. But, we’ve all experienced this type of absurdity in our consumer lives, whether it was due to an insurance provider or a […]

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A World First in Social?

I really like how the insurance news so far this year is supporting Mark’s trends for 2015. Consider this: “RSA Insurance Group is aiming to be “the world’s first truly social insurer” by eschewing the standard practice of using social media tools as yet another channel for advertising, and instead looking to build communities among […]

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Driver Feedback

One of the fun parts of making predictions is seeing how they pan out. In his kick-off post last week, Mark McLaughlin talked about interaction frequency and customer engagement where insurer have to get better. We didn’t have to wait long: on the same day, Insurance Networking News had the headline “Progressive Partners with OnStar […]

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