[Co-authored with Mudit Mathur, Nidhi Rustagi, Sundeep Thakkar, and Amaresh Tripathy] Recently we posted a story around the future of commercial insurance segments and how the dynamics of small commercial segment is playing out differently from that of mid-market commercial segments. To put it succinctly, the pitch around small commercial segment is that of efficiency [...]
Continue reading about Market and Agent Performance Toolset for Insurance Companies
[Co-authored with Nirav Bhagat and Punita Gandhi] With close to 9 million views, the YouTube video “United Breaks Guitars” was one of the more significant internet memes of 2009 (1). United Airlines severely damaged the neck of David Carroll’s Taylor guitar while unloading his baggage. After a fruitless attempt to obtain compensation from United Airlines, [...]
Continue reading about The 3 S’s of Social Media in Insurance – Sense-Share-Serve
[Co-authored with Chris Curran] Is Claims Processing Getting Any Better? How long does it take for your auto insurance carrier (or your own organization for the insurance professionals out there) to process a claim and how many people are involved in the process? Most insurance claims takes weeks, if not months to fully complete. In [...]
Continue reading about Improving Insurance Claims with the iPhone
[Co-authored with John Sviokla and Jamie Yoder] One of the most important things that executives forget when they craft their service model is the need to address customers’ anxieties. In today’s grim environment, this is more important than ever for all companies but especially for financial services firms. Since the financial crisis of September 2008, [...]
Continue reading about Are You Catering to your Customers’ Anxieties?
[Co-authored with Marik Brockman] We frequently hear consumers are increasingly embracing the Web for researching and purchasing all kinds of products – including insurance products that were often considered ‘sold’ by agents or advisors versus having been ‘bought’ by consumers. According to Celent, Web “influenced” life insurance purchases will rise from over 40% in 2008 [...]
[Co-authored with Jamie Yoder] It is that time of the year when insurance carriers, agents, consumers, and market watchers (including consultants like us) have to take stock of the year that has past and make some bets on where the market is heading and what we all need to do. In the first of a [...]
Continue reading about Looking Back and Moving Forward – Commercial Lines Insurance
[Co-authored with Jamie Yoder] In this first post, part of a series on the “Evolving Role of the Internet” we will examine how the role of the Internet has changed within insurance carriers from the early dot com years to now. Imagine walking into the Big House at the University of Michigan with a capacity [...]
