The biggest change in insurance over the last decade has been the advent of the mobile strategy.
Customers are no longer tied to their PC, which means businesses have to find a better way to connect
with both agents and policyholders. In the past, some industries, including insurance, ignored technology
advancements until there was no longer any choice. That lack of strategic thinking doesn’t work today
because customers have higher expectations for every company they do with—including insurance
carriers. This month, we asked three industry analysts for their take on this issue. Responding were Frank
Petersmark, associate vice president of Novarica; Karlyn Carnahan, research director for Celent; and Ellen
Carney, principal analyst, insurance e-business and channel strategy, for Forrester.
What Do You Think?
This month’s question:
What should insurance carriers do to keep up with
customer expectations in regard to mobility?
interested in meet-
ing or exceeding
mobility are looking
at a two-pronged
have to actually
understand what their current custom-
ers, and more importantly their next
generation of customers, expect from a
That’s easy for carriers to do; all they
have to do is peruse retail and financial
apps they already use as consumers. Because what insurance customers expect
is the same mobile experiences they’re
used to getting from other industries,
which is something they’re not currently
getting from their insurance carrier.
The second part is more difficult.
Carriers have to implement the types
of architectural models, data platforms,
software, and processes that support a
responsive, flexible, and dynamic mobile
Once they’ve done that, they’ll be in
position to meet those expectations—
expectations that will evolve as new
mobile technologies and capabilities are
introduced in non-insurance industries.
The basic features
of inquiry and basic
as bill pay and first
notice of loss on any
device have become
move to the next
step of finding ways to build an ongoing
interaction on their mobile apps. Think
customer engagement in addition to
Use gamification techniques to give
the customers points and badges, include
push notifications, and links to interesting
content. Savvy carriers are working to
be the app that customers check while
they’re in line at the bank and that only
happens if the content is engaging.
Don’t forget App Store Optimization to
assure that your app is easily found in an
app store’s search results.
Innovation is an
essential component in the mobile
improvement process, yet innovation
is hard, particularly
in rigid and heavily
Beyond basic use of the mobile device’s
sensors to measure driving behavior or its
camera for loss estimating, many digital
insurance teams have barely scratched the
surface of mobile opportunity.
Digital insurance teams must do more
than streamline mobile experiences; they
must look for ways to use mobile technology to optimize the entire insurance
business model. The continuous creation
of great mobile experiences for customers means that digital insurance teams
must blend the art of the mobile “
possible” with the science derived from strong
analytics and development frameworks.
Successful digital insurance teams
bridge art and science by creating
environments that prize both innovation
and entrepreneurship to capitalize on the
opportunities that mobile creates and
the mastery of continuous improvement
quality methodologies like Six Sigma and
Lean that ensure proper execution.