Few insurers think of going mobile - 07 Jun 2010 17:35
International management consultancy company Accenture has recently conducted a survey that shows the majority of 125 insurance companies are looking to branch out into mobile digital markets. According to the survey, if insurers want to get consumers’ attention, they need to branch out into different types of media.
More than 80 percent of insurance companies are considering branching out into new digital markets, specifically mobile markets, to access more consumers. Despite this, however, only 21 percent of insurers indicated that such facilities such as quoting, underwriting, billing, claims management and policy management will be available via mobile devices–and this will only be in three years time.
Other insurers not yet offering such services as online quoting or account management, hope to have this facility up and running within three years. A slow uptake compared to some insurers who have already inaugurated such facilities into their offerings.
According to I
nsurance lead at Accenture SA (who said in a Business Day article), the the advantage of smart phones to influence consumers’ choice is not yet sufficient enough for mobile media to be a viable market. The problem is not merely one of distribution channels, but matching the channel with the right consumer at the right price.
A truly comprehensive understanding of the customer and his or her use of mobile media is essential before any amount of capital is invested in such infrastructure.
International management consultancy company Accenture has recently conducted a survey that shows the majority of 125 insurance companies are looking to branch out into mobile digital markets. According to the survey, if insurers want to get consumers’ attention, they need to branch out into different types of media.
More than 80 percent of insurance companies are considering branching out into new digital markets, specifically mobile markets, to access more consumers. Despite this, however, only 21 percent of insurers indicated that such facilities such as quoting, underwriting, billing, claims management and policy management will be available via mobile devices–and this will only be in three years time.
Other insurers not yet offering such services as online quoting or account management, hope to have this facility up and running within three years. A slow uptake compared to some insurers who have already inaugurated such facilities into their offerings.
According to I
nsurance lead at Accenture SA (who said in a Business Day article), the the advantage of smart phones to influence consumers’ choice is not yet sufficient enough for mobile media to be a viable market. The problem is not merely one of distribution channels, but matching the channel with the right consumer at the right price. A truly comprehensive understanding of the customer and his or her use of mobile media is essential before any amount of capital is invested in such infrastructure.