Why Brand Promise Must Integrate With Superb Digital Delivery
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Dr. Patrick Chin, Asia Pacific Head of Digital & Branding, shares the importance of digital delivery integration with brand promise. #SompoHoldingsAsia #SompoAsia #innovation #digitalintegration #brandpromise #insurance
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Why Brand Promise Must Integrate With Superb Digital Delivery
- 1. B r a n d S t r a t e g y U p d a t e d Why Brand Promise Must Integrate With Superb Digital Delivery Dr. Patrick Chin Head of Digital, Asia Pac Head of Branding, Asia Pac SOMPO
- 2. ➢ Leading Bancassurance operator in Japan with over 450 financial institution partnerships ➢ Main business activities and product offerings:- ➢ P&C Insurance ➢ Life insurance ➢ Asset management ➢ Risk consulting ➢ Nursing care and healthcare Sompo Holdings – Largest Non-Life Insurer in Japan
- 3. Driving Digital Innovation A N E W C H A P T E R S O M P O D i g i t a l L a b T o k y o S O M P O D i g i t a l L a b S i l i c o n V a l l e y S O M P O D i g i t a l L a b I s r a e l
- 4. Laggard incumbents die 1. To what extent will digital technology transform the cost structure of the business? 2. Will digital technology disrupt supply and demand? 3. Will digital technology give birth to new value propositions and markets? 4. Will digital technology give birth to hyper-scale platforms? time New trends emerge Innovative Startup begin to disrupt business models Early adopters embrace the new models Advanced incumbents adapt to new model Mainstream customers adopt life insurance personal insurance Focus on digitizing existing business model Focus on innovative products, services, and business models tipping point The digital tipping point commercial insurance Current position of most carriers in segment. To stay competitive, incumbents’ strategic focus should shift from digitizing the existing business model to disrupting it as digital technology takes hold
- 6. Harvard Business Review, Strategy Under Uncertainty
- 8. BRANDING DIGITAL DISRUPTIONDILUTED Disrupt DigitizeDigitalize Brand Concept Products & Services Brand Name & Symbols Brand Management
- 10. BRANDING DIGITAL DISRUPTIONDILUTED CX UI/UXGREAT DESIGN
- 11. NEEDS NEEDS FULFILMENTFUNC. EMO.
- 12. BRANDING DIGITAL DISRUPTIONDILUTED CX UI/UXGREAT DESIGN NEEDS NEEDSFUNC. EMO. FULFILMENT
- 14. BRANDING DIGITAL DISRUPTIONDILUTED CX UI/UXGREAT DESIGN NEEDS NEEDSFUNC. EMO. FULFILMENT SCORECARD DIGITAL SALESBRANDAwareness Purchase Loyal Repeat YAWNING GAP
- 15. BRANDING DIGITAL DISRUPTIONDILUTED CX UI/UXGREAT DESIGN NEEDS NEEDSFUNC. EMO. FULFILMENT SCORECARD DIGITAL SALESBRANDAwareness Consideration Familiar Preference Purchase Loyal Repeat Preference
- 19. Brandingleadership is not determined by the size of the business; it is determinedby the size of the ideas. It means innovatingand renovating, reimaginingthe place where customer meets branded digital interface, aiming to deliver a great customer experience, anytime, anywhere… “ “