customers

What will be the next big disruption in the insurtech?

See how other insurance firms are innovating to transform the financial services industry. At a recent event hosted by IBM and the Economist: Reinventing Financial Services, we asked insurance leaders questions about what the future of the industry looks like and what their companies will need to do to adapt to the change. Here’s how […]

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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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We want our added value from insurance. Mobility makes it happen.

Of all the bills I pay for my own household, I’m still staggered that the insurance bill is the largest component of household spend for which I get nothing in return in the moment. Don’t get me wrong. I do realize how the insurance business works, of course. But still… I’m increasingly scratching my head […]

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Random Thoughts: Watching the English (and Americans, and Australians…)

Today we will take another look at the most recent IBM Institute for Business Value (IBV) study on insurance customer retention, “Capturing hearts, minds and market share“. I’ll be focusing on some country level information, specifically the Anglo-Saxon countries in the study, i.e. the U.K., the U.S., Canada and Australia. [1]   I’ve pointed out […]

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Random thoughts: new entrants and adjacent spaces

Last week, we launched the new IBM Institute for Business Value study on insurance retention – I blogged about it on this site.[1] One of the recurring themes in the study is the threat of new entrants – today, some random thoughts around this topic: Customers are open to buying insurance from non-insurers. When we […]

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3 actions to help you retain your customers

After two sneak peeks and a lot of data snippets on Twitter,  the new IBV study for insurance has arrived! In “Capturing hearts, minds and market share – How connected insurers are improving customer retention”, my colleague Lee-Han Tjioe and I decribe the issues insurers are facing in retaining today’s empowered consumer, and the actions […]

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Does Your Insurer Really Understand Customer Engagement?

Let me tell you a heartening story in which an insurer really delivers on customer engagement. Steve, a happy-go-lucky millennial, was travelling from New York to Los Angeles via Atlanta. Only two hours before he boarded his flight, Steve purchased travel insurance using his mobile phone. His flight from JFK to Atlanta was uneventful and […]

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How are Analytics Bringing Financial Institutions Closer to Customers?

If customer centricity is the question, analytics is the answer for financial institutions. The insurance industry has entered a new era. Financial institutions (FIs), specifically insurers, are transforming from a simple, one-size-fits all business model to an advanced, data-based approach. Why? They’re eager to improve sales, do more focused marketing through multiple channels and strengthen […]

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Millennials and the looming, difficult questions ahead

At InterConnect last week, there was a great emphasis on insurance in the critical areas of Cloud and Mobility with sessions and content from State Farm, Aetna, Primerica and Nationwide – among others. In addition, I had the privilege of seeing a great session — that was standing-room only — to see the first Mobile […]

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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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Remember to be human

I recently attended the 2014 Social Media Conference for Financial Services hosted by LOMA and LIMRA. One of the main themes that came across from many of the speakers was the need to remember the human interaction on social media. Speaker after speaker emphasized one of the most important aspects of social media-interactions with people. Oftentimes, […]

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Claims and the moment-of-truth experience

I have spent a large part of my working career in the insurance industry as a captive agent for a large multi-national insurance carrier. The experience that I have had within the industry has eased my transition as a consultant to help bring clients’ perspective and understanding from a sales, process, and operations flow. I […]

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