Frank Heaps
Director, P&C Product Marketing
StoneRiver
Are you keeping up with your customers? Technology is changing rapidly; we all know that. We also understand that keeping up is a huge challenge. All this change is reshaping consumer expectations and they will quickly change their expectations of their insurance carriers. Youth generally drives technology change but older consumers are quickly embracing the ability to easily access and update information. All this inter-connectivity has been around for years, but the user interaction has become so simple and so seamless that basically anyone can do it. However, too many carriers are still processing insurance on systems that are 30 years old and cannot easily adapt to the new world.
Many carriers are working to provide better service through agents, call centers, web sites, etc. But that is not meeting the need many consumers have. Technology savvy consumers often prefer ease of access to information when reviewing carriers. The lines between consumers have blurred: under 20 (social media users), under 30 (grew up with the Internet), under 40 (experience with computers) due to the delivery of handheld applications, iPhones, iPads, Kindles, and other devices. Baby boomers are the fastest growing demographic on FaceBook and are major purchasers of advanced, easy-to-use devices. The sheer accessibility of information and the ability to perform activities anywhere at any time are reshaping how we interact with consumers from automobiles (virtual showroom) to reading books, to purchasing insurance.
Can your mission-critical, core applications support the demands? We are beginning the next decade of the 21st century, and it is time to begin the adoption of new technologies that support innovative accessibility. The days of surrounding legacy applications of the 1990’s and the front-ending of these same solutions of the last decade are past. To move forward and support these customer needs, you will need to upgrade to a newer platform that will poise your company for the consumer expectations now and the ones to come.