Insurance Going Digital: a recap of Insurance Canada Technology Conference ICTC 2015
“We need to keep winning the customer over and over again,” said Wendy Watson of ORBiT Canada.
Statements like these were made throughout the 2 day Insurance Canada Technology Conference (ICTC) last week. Insurance companies, Direct writers, Brokers and Technology vendors made up the audience all willing to learn about successful engagement strategies for the new digital customer experience. Giants like Google have entered the insurance space, but should the immediate fear be Google stealing the market share? Or should it be your competitors? There is a “race to the finish line” notion amongst everyone. The companies and broker channels that build a cohesive digital strategy around one thing – their customers – are largely more likely to have success on-line.
Key take aways:
• Your website is your Digital Storefront -> make sure that when your customer comes to see you online, they have the same great experience they would have had if they came to see you in-person. “Omni-Channel” customer engagement.
• Capturing, leveraging and measuring BIG Data for predictive buying patterns and advanced digital marketing -> in real-time
• Brokers: it’s time to re-think, re-invest and reach out to the vendors that can make this transition a reality for you. Taking an easy approach is almost as bad as doing nothing at all.
“Brokers have gone from selling a single source essential service to competing in a fiercely contested multi-channel market!” ~ NAVICOM
• Software Technology Integrations across all systems
The closing Keynote on day one suggested that, rather than getting overwhelmed by all the noise, insurance providers of any kind need to put their heads down, bring on digital partners and come up with their plan. Unlike other parts of the world, Canadians like the personal touch. Keep your customers in the forefront of your digital strategies, and you will succeed.
We’ll be releasing a new Case Study on an insurance broker in Alberta who is striving (and succeeding) in finding the overlap between technology and a personal approach. Sign up for our newsletter below to be notified when it arrives. In the meantime, you can read our Case Study on All Insurance, a company actively invested in their web presence.