E-Commerce with an emphasis on Social Technologies
I read a recent article that spoke about the critically important role Social Technologies will play in the survival of business. The focus was the current lack of participation in Social Tech at the executive level. While the article wasn’t specifically pointed at the insurance industry, based on my experiences within the insurance vertical, especially the Life, Health, and Accident sector, my experience affirms the following truths.
So do you see how incredibly damaging it is for insurance company executives to abdicate technological strategy? I heard it said this way recently,
I doubt that there’s actually deception going on – a necessary component of treason, but you get the point: If an executive is tasked with strategic leadership, and yet they don’t understand technology, much less set the direction for its use, aren’t they putting the enterprise at risk?
The top insurance companies today are actually “technology companies in the business of insurance” rather than “insurance companies leveraging technology.” The most effective executives in insurance tomorrow will be the ones who understand technology, who use it with their own hands, who write about technology and teach it to their staff and business partners, and who create dashboards that will continuously put new information in view about how to leverage technology.
To that end, I’ve got a handful of public Social Tech Boot Camps for Insurance Executives scheduled over the next few months, plus a few private ones. After that, I’ll be moving on.
What’s next? A LOT. But if executives don’t understand Social Tech and Web analytics, they won’t be able to understand and apply what’s coming after.
Do you agree? Or is there still more time to wait and see on Social Tech? Is the Blockbuster video demise instructive? They fell off a cliff. Is the current overhaul of the health insurance business model a direct result, among other reasons, of an industry not leveraging technology to the point of exasperation of the constituent base? (Remember, Obamacare passed by ONE VOTE.)
Am I out in left field on this? Please drop a Comment. Perhaps then Share the post on Linkedin and ask your network to Comment as well.
What’s at stake? What’s the solution?