Practically deliver the same online experience as retailers, hotels, airlines from selecting/placing order (claim) to delivery of product/service ( remedy/repair or replace) in manner that exceeds expectations.
Not just product innovation but digitally transforming the whole supply chain from beginning to end. Rejuvenating legacy back-office systems with new cloud "Platform-as-a-Service (PaaS) solutions.
Luckily that does not mean junking the current legacy insurance CRM systems. Your digital customer record in the cloud simply ties into your Core system by linking its unique URL identifier to a button.
Adopting this approach opens up another critical success factor- accessing most data in the organisation not just the 10-15% typically accessible. Big Data Analytics is a must-have yet all those emails, social media messages, free-form text rarely escape from document management systems.
Follow the link above to find at least two options some of your competitors are adopting and deploying today.
And you can start today and move over core legacy systems at leisure as resources and other priorities allow. Start now or be a laggard.
No excuse not to move NPS from right to left and achieve inter-industry high scores.
Insurance represents a huge opportunity that has yet to see real innovation. The U.S. insurance industry is the largest in the world in terms of revenue, with net premiums surpassing $1.2 trillion. At the same time, the major players have some of the lowest Net Promoter Score (NPS) ratings of any industry, meaning the companies do not inspire satisfaction or loyalty in their customers.