E-Commerce with an emphasis on Social Technologies
Last week’s 2016 PIMA MidYear Meeting was off-the-charts good. As a returning member, I went about my business talking to people about amazing new Social Tech opportunities, which by the way got more traction than ever before by a wide margin. As promised, along the way, I asked attendees at random what their Top 2-3 Challenges are today.
On a phone call with an insurance marketing industry veteran this morning, he said this:
“The Market is demanding more access and transparency. Regulators are demanding more information security and compliance. Insurance companies are struggling with adapting product and process to generational preferences and digital requirements. People will tolerate some level of off-line completion in the process, via email or phone, as long as it’s efficient and streamlined and non-repetitive providing a good user experience. The ones that solved it are winning. Some have spent millions on processes that didn’t have buy-in from internal teams and therefore didn’t yield the necessary ROI. That learning process has been costly.”
Let me start by saying, I don’t have all the answers. But I’ve observed a few things that perhaps might be considered a state-of-the-business in some way. And yes, there are many exceptions to all these items.
Starting out 2014, after 4 years of talking about Social Tech to insurance executives, I’m concerned that too many insurance companies and agencies, and the business partners and associations that serve them, are missing a critical sea change in business. Read the rest of this entry »