Download to read offline
More Related Content
Similar to Being Digital in Commercial Lines
Being Digital in Commercial Lines
- 1. Being Digital in Commercial Lines •Cindy Gravelle, Youngs Insurance Brokers • Tom Reid, Aviva Canada • Sam Natur, Bullfrog Insurance • Kevin Campbell, Policy Works (moderator)
- 2. What Does ThisMean and How DoWe GetThere?
- 3. Being Digital in CommercialLines What Does this Mean and How Do We Get There?
- 4. Cindy Gravelle,Youngs InsuranceBrokers Tom Reid, Aviva Canada Sam Natur, Bullfrog Insurance Moderator: Kevin Campbell, PolicyWorks
- 6. “The access, themobility, and the ability to affect change are what make the future so different from the present. And digitization will increase dramatically with each generation becoming more digital than the preceding one. Being digital is not about the future. It is here. It is now.” Nicholas Negroponte, 1995
- 7. “Leading organizations arebecoming social organizations.” Marc Benioff Salesforce CEO
- 8. Being Digital inCommercial Lines Cindy Gravelle, VP Commercial Insurance Youngs Insurance Brokers 8
- 9. WHY COMMERCIAL? • Successionplan for the future • Showcase the advantages of an experienced insurance professional 9
- 10. HOW DO WEGET THERE? • Revamped website • In-house social media/branding manager • Engage and educate staff in the digital process • Establishing brokerage portal. • Mobile apps for front line 10
- 11. OUR BIGGEST CHALLENGE? 11 •Getting rates from multiple carriers ▫ One input for five (5) quotes ▫ One app to Policy Works for upload to multiple markets for real time quote • Tools to capture small business OUR ADVANTAGE? The broker channel working together with our markets to find a solution to head into the digital future.
- 12. Customer & Digital TomReid, Executive Director May 2016
- 13. © Aviva PLCPrivate and confidential13 The core capabilities to win have changed and Aviva is positioned to leverage our past strengths Now and the Future • Distribution Relationships • Pricing Sophistication • Product / Wording strength • Claims efficiency • Limit customer engagement • Risk Averse •Analytics to support the customer experience from marketing and underwriting through to claims •Customer segmentation •Self Serve •Digital innovation •Agile delivery and Fail Fast Sources Of Competitive Advantage The Past
- 14. © Aviva PLCPrivate and confidential14 Digital KPIs Digital Customer Interactions Sales & Marketing Workplace • % of customer email addresses • % of C/L electronic interactions through CMS/BMS • % of online leads • # of interactions through broker portal • Online quote/hit ratios • CL renewal automation • % of claims payments made digitally • # of claims submitted through digital channels • ePost usage (or similar) • % paperless • % pay online • % of marketing spend that is digital • % of revenue through digital channels • # of digital insurance products • % “metered” revenue (Uber, UBI) • % Sales through API (3rd party websites) • % of staff work from home/remote workers • % of projects informed by analytics • % of facilities that are touchdown stations • # of video / online meetings
- 15. Disruption of Industries bullfroginsurance
- 16. • 20 yearsas a Management Consultant working on business transformations, rescues and startup projects. Ideas to reality / virtualization of traditional industries. My Background unwalleted
- 17.
- 18. Symptoms of Potentialfor Disruption • Technology in your industry is rapidly changing • New competitors with a different approach are emerging • Historically the industry is very lucrative • The industry is highly regulated • Real change in the industry is infrequent P P P P P
- 19. Let the questionsbegin…
- 20. What Does ThisMean and How DoWe GetThere? Thanks!