Infographic featuring insights from the IBM Institute for Business Value study "Digital reinvention - Trust, transparency and technology in the insurance world of tomorrow" http://www-935.ibm.com/services/us/gbs/thoughtleadership/digitalreinvention-insurance/

1. Percent of total
Key theme
Preferred
interaction points for
searching
Preferred
interaction points for
purchase
Younger than 30
Influencing the connected
insurance customer Milliennials
Interactions between insurers and individuals
keep changing
The changing imperatives
Boomers
Older than 50
wants to interact
with others
71% 58%
is omni-
channel
is looking
for advice
is open to new
products and ideas
59% 54%59% 51% 49% 35%
The insurance customer of the future....
Expanded partnerships
(home builder, airline, health care
provider, car sharing company)
Data access and sharing
across the ecosystem –
from and to the insurer
Recombination of classical
touch points (agent/community
manager) with digital (Web app,
mobile apps) and completely new
(avatar, refrigerator app)
Product packages that cross
traditional lines of business to
connect customer goals –
transition from coverage based to
needs based
Individualized risk and
premium calculation
with flexible adjustments
End-to-end processes with
high degree of
automation
Networks
What to do
Ecosystem
Access pointsProducts
Risk
Processes
Note: n=17,594
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“I know what
I want and
organize myself”
Web
All
Security
oriented
individualist
16%
“I do not like insurers,
make it cheap and
stay away”
Web
All Web and
telephone
Price-oriented
minimalist
15%
“I need
personal
advice”
All personal
All personal
Demanding
support-
seeker
15%
“I take time to
research to
find the best”
All with tendency
toward newer
technologies
All with tendency
toward newer
technologies
Informed
optimizer
15%
“I trust my insurer
and remain a
loyal customer”
Tied agents
and peers
Tied agents
Loyal
quality-seeker
17%
“I need advice but
prefer to keep my
distance”
Peers
All personal
Support-
seeking skeptic
23%
Growth