2

Agenda

• Disruption• Evolution of Consumer• Distribution Evolution• Need for Advice / Comparative rating

• New Face of Insurance• Digital Strategy• What is it?• How do we get there?

Evolution: Digital Darwinism

If time has taught us anything, it is that we must adapt and change to survive

Evolution of the Consumer

Myth: My consumer is not ready for the digital world

The Grandmother Paradigm

Silver surfers have embraced technology and social media as family’s spread the globe

Christmas shopping across the world drives online acceptance and usage

How Insurance Carriers facilitate their consumer integration and interaction

Distribution Evolution

A once dominated Captive distribution is now led by Independent producers – they own 50% of all sales50%

The number of individuals that are inclined to do their own research online, rather than through an agent74%

Individuals that would purchase their life insurance online Today, if available25%

P&C Direct Written business in terms of net premium (personal lines)71%

Source: Limra 2014

The Digital Revolution

Digitally enabled companies entering your industryfrom another industry – Beagle Street58%

The amount of business revenue attributed as digital revenue by 2020 (compared to 18% in 2015)43%

Believe Digital Business best describes their organization need32%

Believe a Major or Widespread Transformation is requiredIn order to adapt to the evolving market61%

Source: Gartner 2015

Insurance Communication and Collaboration Landscape

Lead Generation

Evolution: Advice

Evolution: Education and Planning

The New Face of InsuranceSimple, Friendly, Informative, Collaborative………Fun

Simple, Friendly……..

12

Digital StrategyRethinking you Digital Footprint, not your Website

17

Evolve: Rethinking your Organization

• Digital Strategy– Not a Website redesign– Education is key

• Consumers search to be educated not to find an Insurer• Provide key Insurance 101 education and “What do I need?” calculators – assist your

consumers– Embrace multi-channel distribution models

• Ease of doing business– Go where your consumers and agents are, provide integration through engagement

• Integrate options to be called, txt, online chat, connect to an agent, buy direct – let the consumer decide on the path and media – exclude no one

– Focus:• audiences, sites, content management, branding and design, user experience, features and

functionality, technology, marketing, mobile, social

Digital Strategy

18

• Goal: Create a roadmap detailing how to leverage the latest digital business models & technologies to achieve its business goals and establish an agile digital framework that will allow the business to innovate and adapt quickly to changing market conditions and customer / channel needs.• Top level Benefits of a Digital Strategy:

• Improve the ease of doing business. Allow Customers and Channel Partners to interact in their preferred method.

• Increase customer acquisition and Retention• Improve competitive positioning / advantage• Improve efficiency of providing services• Gain insight on customer needs and preferences• Improve organizational agility in responding to new opportunities and threats

What does a Digital Strategy include?

Design, Style, Brand

Intranet

Externally Facing Sites

Externally Facing

Applications

Affiliate / Channel Site

Strategy

Mobile

Social Networking

Web Technology,

Tools and Integrations

Traffic GenerationSEO, SEM

Web Governance

E-mail / Digital Marketing &

CommunicationsUser

ExperienceContentStyle &

Best PracticesAnalytics and

MeasurementAudience Segmentation, Personalization

Content Governance

Content writing

Recruiting

Lead Generation

OCM

Consumer Enablement Maturity Curve4

2

3

1

Customer Section in site• Public Information• Start a quote • Phone based

service• Claim forms

Simple Customer Self Service Portal• Secure Login• Policy information• Planning tools• Forms to print• Update address• Update contact• Pay bill – set EFT• Improved Customer

Service Technologies:• IVR• Chat

Customer Self Service - Advanced• Update beneficiaries• Add Products • Manage financial

information• Loan request• Payment history• Improved Customer

Service Technologies:• Mobile sites• Screen Sharing• Social Service• Mobile

Applications• E-delivery of disclosures

and bills

Integrative Experience• Simple profile with quote

request / application• Collaborative Workspace

through medical and underwriting

• eForms / E-signatures• Full Policyholder services

online• Claims management online• Upsell / Cross sell• View policies across business

lines• Business Process

Automation technologies• Building a community

Distribution Enablement Maturity Curve4

2

3

1

Agent Section in site• Public Information• Marketing Materials• Phone based service

Simple Agent Communications & Self Service Portal• Secure Login• Enter new Policy• Policy search &

information• Policy status• Planning tools for use

with prospects• Forms to print• Pay bill – set EFT• Commissions• Messages

Agent Self Service - Advanced• CRM: View all customers

and be able to communicate with them

• Ability to do a policy and submit for approval in one sitting

• E-forms,E-signatures• View policy status and

manage interactions with Prospect

• View claims and status• Proactive alerts• Simple mobile tools –

Education and Planning• Lead management

Integrative end to end Experience• Full Agent services online• Collaborative Workspace• Integration with external data

such as Funeral Homes• Business Process Automation

technologies• Advanced mobile applications

with offline mode. Ability to complete a policy and submit from customer home.

• Location based services• Lead sharing and Agent

interaction• Full CRM and marketing

functionality• Agent websites

The Digital Strategy Process:

22

• Web Traffic Review

• Competitive Analysis

• Business Strategy

• Brand Strategy

• Stakeholder Interviews

• User Interviews

• Technical Roadmap

Current State

Future State

How to ge

t there:

Roadmap and

Implementation

Plan

• Vision

• Scope

• Measurable Outcomes

• Distribution Channels

• User Experience

• Content & Functionality

• Technology & Tools

• Roadmap = Agreed upon, multi phased action plan that includes:• Recommended initiatives with scope, timelines, costs and expected benefits• Sequence of initiatives based on business value and constraints

Questions?