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What are the strategies that will deliver success today and ensure continuous progress for insurance carriers tomorrow?
Ever the double-edged sword, advances in technology have arguably driven the greatest change to the industry that insurance has ever witnessed. As technology has proliferated, so too has the quantity and quality of available data (data is, after all, the foundation of insurance and its capacity to predict and price risk). The effects of technology on other industries have made themselves clear (think Amazon, Airbnb, Uber), as has the mass extinction of companies who failed to adapt to their new environment and digitally minded consumers; since the year 2000, 50% of Fortune 500 companies have disappeared altogether.
Insurance now accepts that to stay relevant with today’s digitally minded consumer, it must catch up with the crowd and match the high customer expectations set elsewhere. Taking the banking sector as an example, customers of ‘neobanks’ (Monzo, Starling, etc.) regularly report higher satisfaction than those of legacy banks, while most retail banking is expected to be conducted online or though apps as soon as 2021. Considering the rise of ‘disruptors’ such as Lemonade, Hippo and Metromile in the insurance space, competition for customers has never been so high.
As insurance carriers seek to make themselves fit for the 21st century digital economy, what are the strategies that will deliver success today and ensure continuous progress for insurance carriers tomorrow?
To address this question, and more, Insurance Nexus will be joined on Wednesday, September 8th for an exclusive webinar, Key Strategies to Deliver for Future Readiness, taking place at 11am ET. Moderator Paul Winston (Chief Operating Officer, Insurance Thought Leadership) will be joined by Scott Steele (Vice President and Chief Marketing Officer, Church Mutual Insurance Company) and Racquel L Santana (Vice President, eBusiness Strategy and Execution, Travelers) to discuss the strategies they are employing to ensure long-term success for insurance carriers as they enter the digital age.
Unlocking the value of customer engagement: Stop chasing customers’ expectations and start anticipating their evolution to stay ahead, reduce cost of sales, improve cross-selling opportunities and deliver true customer value
Finding clear efficiency gains with process automation:Discover how to augment your teams’ capabilities and help them to deliver more with less and create the space they need to become more customer-centric
Bridging the gap between tech and people:Innovative tech will only move from an investment to a return if you have the right people and culture to leverage it. Explore how to create a culture fit for change
Delivering innovation that clearly impact the business:Innovation for innovation’s sake is off the table. Instead of “shiny object” initiatives, build strategies to master your business’ crucial needs such as claims, billing, and customer onboarding
Moderator and COO for Insurance Thought Leadership, Paul Winston had this to say "I’m looking forward to speaking with insurance leaders who are leveraging connected technology to gain new data that can enable better customer insights and risk analysis."
Those who cannot join live will be sent the webinar recordings if they register.