Customer Experience and Mapping Your Digital Journey

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The Customer Experience and Mapping Your Digital Journey

The Customer Experience and Mapping Your Digital JourneyMapping your digital journey and learning how toadapt to the new digitally transformed society and mobileworld is key to future success1

Insurance Agents & Brokers serving Pa., Md. and Del.October 27, 2015

Senior Vice President AartrijkRick MorganHighlight:Being named to Insurance Newscasts 100 Most Powerful People in the Insurance Industry North America.

Independent Agency PrincipalSilver Plume Applied Systems Agents Council for Technology




The Customer JourneyMeaningful and shared experiences vs. product and servicesDiscoverEvaluateBuyExperienceRenew or LeaveAdvocate


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TrendsSocial CultureConnected SocietyMobileDiversityBig Data BIChanging Nature of RiskPrivacy - Security



Social Culture/Digital Transformation

The Internet of Me is changing the way people around the world interact through technology, placing the end user at the center of every digital experience. AccentureThis trend is an acknowledgement of the broad influence and impact social and digital is having on all aspects of our society including our business lives. It implies the ongoing transformational change in our culture - it is an expansive strategic trend that has grown out of social web tools and digital technology. It recognizes the need for organizations to not just do social but to become social and digitally transformed businesses.

In this new environment, consumers have taken social interaction to a higher level, communicating virtually with much larger groups of people, while at the same time becoming increasingly interconnected and empowered using social media, mobile devices and other digital technologies. Consumers are employing these new tools to become better informed, to make buying decisions and to express their opinions to their followers about the products, businesses and events of interest to them.Businesses are starting to reinvent their business models to fit into the social culture and are transforming themselves into social businesses and digital organizations to properly leverage the opportunities presented by the social web, as well as, being able to adapt and respond to the expectations of the connected and empowered. Social business goes to the core of the business value statement and brings human value back into the core business roles, processes and outcomes.Digital transformationrefers to the changes associated with the application ofdigital technologyin all aspects ofhuman society.[1]Digital transformation may be thought as the third stage of embracing digital technologies:digital competencedigital literacy digital transformation. The latter stage means that digital usages inherently enable new types of innovation and creativity in a particular domain, rather than simply enhance and support the traditional methods. - Wikipedia Here is a very relevant TED talk by Charlene Li about Leadership in the Digital Era: Charlene Li TED Talk Indicators and Influencers:The Education Economy - Think about what the consumer wants to know vs. what we want to tell them. Simply having an online presence is no longer enough... It is important to provide value through educating, informing and engaging clients and prospects. This can include demonstrating thought leadership and subject matter expertise. Consumers want to be educated, informed, advised but not sold. Education includes informing your community in the moment so they can prevent mistakes and make right decisions.Inbound Marketing - It is changing forever how insurance firms communicate with (sell) customers and prospects. One-way (push or outbound marketing) communications (e.g., advertising) is becoming a lot less effective with significant groups of people.Digital Marketing/Content Marketing New payment tools/methodologies (Paypal, Square, etc.) On demand services: New ways of conducting business such as eSignature, online applications, access to policy and account information, and claims. Marketing Automation (Infusionsoft, Hubspot)Rich Media - (Voice and Video - podcast, Vine, Snapchat, Instagram video, SlideShare,)On demand servicesConsumerization of IT expandsGamification, Socialization and Personalization of Training 14


Connected Society

Advances in more natural human interfaces, wearable devices, and smart machines are extending intelligent technology to interact as a team member, working alongside employees in a Workforce Reimagined AccentureConnectivity is expanding from consumers to business and even things that is, all aspects of our physical world are being connected. We live in a digitally transformed world.Connected consumers are empowered through changing technology to interact with the social and physical world around them, and thereby to shape how businesses respond. They find, share and communicate information differently than the traditional consumer. They live on smart phones and tablets and network with friends and businesses through social and mobile and digital technologies. In short, they make buying decisions differently and broadcast those decisions to their networked community. Reaching and responding to this consumer requires both different strategies and tactics than traditional methods of marketing and communication. Again, it is critical to create relevant connections15




Diversity of Mobile apps creates opportunity and challengesMobile along with Social and Cloud Computing are what has enabled the cultural transformation and the emergence of the Connected Consumer. Mobile cuts across everything. It will change the products offered (telematics, health checks, travel, etc.); it will affect quotes, account management, and claims; it creates a new infrastructure for communications in disaster situations. It will also change the way the customer interacts with agents and carriers, and how agents and carriers communicate with each otherEqual emphasis needs to be on mobile solutions that connect insureds to both the agency and carrier as well as mobile solutions that connect agents to carriers. Solutions that allow customers to connect, when, where and how they want. Mobile plays a big role in omni-channel communication.Consumer of the future is mobile connected. Technology is evolving quickly. Need to address current needs of customers while at the same time looking toward future needs/technologies.

3 Mobile moments:Loyalty creates a special experience for current customersManufactured creates a connection/relationship with a prospective customerBorrowed intersects with someone when they are on another site/app. Ex)Facebook marketing

Mobility with integrated data is becoming an expectation of consumers. Insurance specific examples are: the ability to scan/take a picture of a VIN which could then compile data on that vehicle for pre-fill during the quote processGPS capability to identify windshield repair shop in area, scan VIN and feed data to the shop to make an appointment, determine price and availability of compatible windshieldData needs to be available anytime, anywhere and anyway that the customer wantsAgents need the ability to connect with existing customers, prospects and carrier underwriters via mobile devices. However, its important to note that each have different needs that would need to be contemplated within the architecture of the mobile solution

Indicators and influencers related to Agent Mobility: Basic policy data# of days since last transactionNotesClaims status





Diversity in every sense of the word (age, ethnicity, culture, gender, connected vs. non-connected. Examples would include producers, service reps and owners from 23 to 73 all working together within agencies- and interacting remotely/virtually, as well as, the increasing number of Spanish and Asian-speaking consumers. And, as noted above, there is now a new category of diversity consisting of the connected vs. non-connected consumer.Indicators and influencers related to Demographic/Diversity Transformation (or, Segmentation & Personalization): Mobile workforce work re-imagined (who, where, how)Work at home employees is a big change in the industry -Virtual EmployeeExit of Baby Boomers from workforce, resulting in changes in business ownership, wealth transfer, the loss of expertise and industry knowledge.Solid perpetuation planning remains number-one driver of value of agencies and their future.The workforce transformation is a big issue. Quotes to be delivered in multiple languages (as selected?)Visual Communications- Being able to reach clients globally and bilingually via Skype/FaceTimeUsing demographics to determine insurance needsNew title: - Segmentation & Personalization (as submitted by Suzanne Witt, Chubb) Offering your clients a personalized customer experience that is tailored to their segmented group, whether thats determined by language, age, ethnicity, whatever, we as agents/Carriers need to be able to provide for ALL of our customers needs instead of making them fit our mold.Burrus Hard Trends - Breakout Group FeedbackMost relevant: The breakout group felt that the first three in particular are good trends for this group discussion going forward. For instance, not only is new e-learning techniques great for a diverse and disbursed agency staff.




Big Data - BI

Datais a term used to describe the technologies and techniques that capture and utilize the exponentially increasing streams of datawith the goal ofbringing enterprise-wide visibility and insights to make rapid critical decisions. High Speed Data Analytics using advanced cloud services will increasingly be used as a complement to existing information management systems to identify actionable insights from the massive big data explosion. Big-Data-as-a-Servicewill emerge as cloud providers offer midsize and smaller organizations access to much larger streams of relevant data they could not otherwise tap into. Daniel BurrusNew technologies and techniques are making possible the capture and analysis of more and more data (Big Data) and the creation of more useful Business Intelligence from it. Agencies and carriers are able to integrate this business intelligence into their decision-making in real time, enabling them to understand their consumers and operations better. These data analytic capabilities have significantly changed how insurance carriers make underwriting, servicing and marketing decisions over the last several years, but there are major opportunities for independent agencies to harness this business intelligence to enhance their prospecting,marketing, sales, servicing and management processes. That is, using BI and analytics to know when a consumer is likely to have a need rather than waiting for them to reach out or making a cold call.

Indicators and influencers:

New technologies applied to Big Data allow businesses to create Business Intelligence on a much larger scale than traditionally available from their internal systems. These technologies include the ability to make correlations between seemingly unrelated data to create accurate business intelligence. Predictive analytics is an example.Personalization - consumers expect us to use this data to tailor or personalize services.Easy to use and comprehensive analytics available as part of online marketing tools to fine-tune and measure the effectiveness of a businesss online marketing efforts. Carriers will gather increasing amounts of data from consumers social interactions, as well as from their own databases. This data will include life event trigger information. How can carriers convert this data into useful business intelligence for their agents to use in their marketing, sales and servicing efforts? In addition, how can carriers create business intelligence from their own claims data to assist their agents in providing risk management advice to their clients? What impact will the availability of more extensive data and business intelligence have on the roles performed within carriers, such as in underwriting, loss control and data analysis? What impact will this business intelligence have on the frontline underwriting traditionally performed by agencies? How might the relationship between the carrier and the policyholder change as the result of the carriers possession of this extensive data and business intelligence?Does the availability of Big Data and business intelligence ease the entry of new competitors with business intelligence skills into the insurance industry? (e.g., Amazon, Google, etc.)




Changing Nature of Risk

Changing social norms, applications of technology, climate all of the trends noted above and more are changing the types of risks that consumers and businesses are facing, creating new opportunities for insurance carriers and agents to design new coverages and creating the need for insurance agents to advise their clients differently about their risks. Examples include the sharing society, information security exposures and the increase in the number and severity natural catastrophic events. Changing Nature of Insurance Risk The nature of insurance risk is changing and a lot of this has to do with technology, the speed that changes are occurring has not been seen in our industry previously. The proliferation of technology in itself has increased tremendously over the past 10 years and shows no sign of slowing. So the actual nature of risk is changing/expanding all the while the insurance industry is learning about the changing risk characteristics the way we handle risk is also changing Big Data is allowing more and more companies to provide better analytics and pricingIndicators and Influencers:

Mass Customization - customized and individually targeted marketing and product creation and deliverySevere, unpredictable weather and major catastrophic events - Will the pattern of the last several years continue driven by global warming and/or other factors, or is it a temporary aberration from the norm? Disruptive Channels (like the sharing society where property is shared among several users) - Will have a significant impact on what is insured and how insurance is sold. Will definition of risk and coverage change?The need for us to revisit existing coverages and services in addition to the need to design new coverages. Much of what we currently offer was developed several years ago and would benefit from a fresh look given all of the changes that are continuing to occur. Carriers will need to be...


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