Must read articles identified by the Insurex Network with perspectives on what is driving changes across our industry.
Digital technology positions agents as discussion partners
The September 15, 2018 article in PropertyCasulaty360 outlines the significant transformation underway in the insurance industry in using digital technology to position agents as “discussion partners” in helping to guide clients to optimal financial decisions as opposed to sales people selling a product. People want this process to be “easy, efficient, and understandable”.
J.D. Power Study
The J.D. Power study that reflects that 20% of people who have homeowners insurance would switch to Amazon (33% for millennials) if it was available. While life insurance unlike homeowners insurance is generally thought to be ‘sold’ and not ‘bought’, my guess is a similar trend would hold true of the appeal of selling pure death protection (term insurance) through the internet.
Culture As a Corporate Asset
A well written summary of a report done by a Blue Ribbon Commission of the National Association of Corporate Directors on the importance of corporate culture and the role that Boards can play in assuring that companies have taken the appropriate actions to assure that they are maximizing this corporate asset