Five Business Capabilities Essential to Personalized Digital Experiences

You have heard a lot – likely an awful lot – about the ways advances in technology are impacting customer experience in the insurance industry: how they drive service beyond what customers expect by adapting with them as their lives change, by managing changes to their plans and policies with ease, and by offering a consistent experience across platforms and interactions. All that’s needed is to tap into it, right? Not so fast, say those in the trenches.

Going Digital? Customer Expectations have Big Implications

As insurers drive to expand and grow in an increasingly digital marketplace, it is understood that excellent customer service is no longer a standout, but a standard. In the last two years, the number one strategic investment across the insurance industry has been in improving customer engagement. Why so much emphasis?

Is Mass Personalization Your Key to Winning on Main Street?

How to make your benefits products a good fit for small businesses

Looked at from a marketing lens, my personal truth is that I am a demographic of one. And anyone who can grasp that and understands my needs and preferences will score some serious points and wallet share. This type of mass personalization could be key to successful benefits insurance small case marketing on Main Street.

You Can Do What? A Zero Data Entry, Bot-Enabled Quote, Buy and Claim?

 Forget “15 minutes could save you 15% on car insurance.” This popular insurance advertising meme makes me want to ask wouldn’t your customers prefer to save not only more time and money, but the effort also? This is precisely the new value that is being achieved with new digital engagement technologies, and customers like it.

Is Small the New Big? Small Businesses are Opportunity for Benefits Insurers

You have surely heard it said that small businesses are the growth engine for America.  Today, the phrase has a special ring to it for benefits insurers. The small business market is often viewed as an opportunity attractive to growth-minded insurers because the focus of the majority of carriers is on the larger, highly-competitive end of the market.

When Did Insurance Get So Cool?

Drones, bots, blockchain, AI and machine learning are what everybody is suddenly talking about. Start-ups with cool names like Trov, Slice, Goji and WeSavvy are the talk of the insurance town, yet just a year or two ago core transformation toward becoming a digital insurer was all the rage, and the names of core vendors filled the headlines. Now, it seems like all the cool stuff is happening peripherally to the core and some great examples peppered the lively discussion of Insurtech and next-gen insurance at the recent SMA Summit.

Why Say "No" When "Yes" Is So Much Better?

When it comes to benefits insurance market expansion…it’s good to be a “yes” man 

What stood out this year at the LIMRA Group and Worksite Benefits Conference was all of the talk around small businesses. Yes, it is an election year. But no, this was not just an echo of every candidate’s familiar refrain about how small business is the growth engine for America and must be supported. For benefits insurers, this is an every year issue. Carriers struggle to make small business a plank in their platform for business growth. The result is that growth opportunities are left on the table while the majority of carriers are forced to battle over the same books of business in the large and jumbo case markets.

2016: Half-Time Adjustment for Voluntary Benefits

Something is altering the basis of competition in the voluntary benefits marketplace

As we get ready for Super Bowl 50, there’s no better lesson for business than the half-time adjustments made by coaches and players.  Teams go into the big game with a plan that they’ve prepared and practiced all week and when they show up, they are ready to execute.  This is not too dissimilar to how some of the group benefits carriers have planned and prepared for the shifts within the voluntary benefits marketplace and have been putting up points. 

Survey says…the road ahead looks promising, but technology continues to be a hazard

The results are in from our second annual Enrollment Technology Survey, and guess what? There are really no surprises. The results of our survey of LIMRA Enrollment Technology Conference attendees and others didn’t show large differences with our 2014 survey. But, like a tipping point being reached in a slow arch, some small measures give clues to the direction of insurer initiatives in enrollment plans and enrollment technology.  And unfortunately, technology infrastructure limitations are still standing in the way of insurers being able to execute their growth strategies.