Post on 16-Jul-2015
Trends in Insurance
Driving Change in
Commerce March 2015
What’s changing in the
World of Insurance CommerceCustomers are more
connected and empowered
Competition is coming from
new and different areas
Operations and business models
are being transformed
Insurance customers are demanding customer-centric interactions
50% of consumers
seeking insurance
begin on a
mobile device
But, 67% of insurers
say their mobile strategy
can’t conduct business
Millennials expect personalization, responsiveness and seamless experiences
71% of millennials like
interacting with others
when searching for
and buying insurance
But, 66% of insurers
do not have a cohesive
social strategy
Technological innovation is changing insurance
The insurance
telematics market
is expected to
reach ~$4 billion in
four years
Internet of Things
revenue from
insurance worldwide
is forecast to reach
over $50 billion by
2018
New insurance business models are emerging
52% of insurers
believe new business
models will have
transformative impact
For insurance information
and quotes, there is an 18%
shift away from personal to
digital interactions
Insurers are beginning to prepare
But, 90% of insurance CEOs
plan to focus on getting
close to the customer in
the next 5 years
39% of insurers
see consumer influence
on their business
strategy today
Understand your customers’
needs, desires and context
Engage in real-time with your
customers, partners and suppliers
Connect your customers to your
ecosystem
A winning insurance strategy
IBM Commerce brings it all together, integrating customer engagement to insurers’ value chains
Provide a
seamless Brand
experience
Manage risk
Reshape internal
and ecosystem
operations
Gain customer insight
Personalize
relationships
23
Octagon Insurance
can understand
their customers’
online experience
from start to finish
Reliance Life’s
self service portal
uses customer
insight to create a
better experience
Over15,000 professionalsare dedicated to serving
the insurance industry
More than 1 billion insurance transactions per
day are processed on the
IBM System z® platform
IBM works with 90% of the world’s top 100
Insurance companies
IBM Commerce delivers value to insurance providers
IBM teams with
19 of the top 23 insurance companies
worldwide
Join us May 11-13th in San Diego
IBM Amplify2015 – For marketing and sales professionals
IBM Empower2015 – For procurement professionals
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