Read about challenges faced by Insurance Industries, how embracing digital and mobile technology can help Insurers increase agent productivity, improve customer satisfaction. We have also highlighted some customer stories describing how our digital solutions have helped insurers around the world.
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Streebo Insurance apps
1.
2. Challenges Faced by Insurance Industries
Insurers expect more disruption, from more different areas, than most other industries
88%
Changes in regulation
71%
Changes in customer behavior
69%
Changes in distribution channels
3. Where Insurance Industry is Heading?
86%
of insurance CEOs believe
technological advances will transform
their business in next 3-5 years
50%
of IT budgets are still spent on
maintenance
$$$
spend in 2015/16 on mobility, data
science, tool optimization and
improved processes
Very few
executives are seriously considering
incorporating IT into strategic planning
and thinking
11%+
of business will be generated via
mobile channels by 2018
250:1
the prediction for digital vs face-to-
face interactions with financial
services companies by 2017
50%
of insurers consider mobile and social
to be a priority
30:1
is the predicted number for mobile
interactions vs calls
1/3
of the insurance industry’s business is expected to occur digitally by 2018
86%
of Life & Annuity (SMEs) providers
already have a BYOD strategy
15 - 20
years Age of a typical Policy
Administration System
• PwC 2014 CEO Survey
• World Insurance Report 2015
• Capgemini & Celant Research
5. Digital Opportunities for Insurance Industries
Alerts &
Notifications
Product Info &
Promotions
Account
Transfers
Customer
Service Queries
Guidance &
FAQs
Account
Opening
Customer
Acquisition
Cross-sell & Up-
sell
Contextual
Offers
Lead Mgt. /
CRM Apps
Collaboration &
Training Apps
BYOD Support
Speech Enabled
Services
Mobile Ads &
Personalization
Enterprise App
Stores
2 way SMS
Messaging
Login and
Enrollment
Account
Transfers
Purpose built
mobile sites
Native Apps
Tablet Apps
Account
Balance
Transaction
History
Personal
Money Mgt.
Bill Payment
Remote
Deposits
P2P Payments
Omni-channel
Apps
Branch & ATM
Locations
M-Payments /
Wallets
Existing Services Maturing Services Emerging Services Relevant for Insurance
Mobile Consumer Mobile Workforce
6. What do IBM & Streebo Offer?
Agents, Customers, Brokers, Distributors and Service Providers
Calculators & Quotations Enrollment Claims
Policy Issuance CRM/Leads Account Mgt & Billing
Configuration, Rules and Validation Engine
Life General Endowment
Annuity Personal Group
Title Health Employee Benefits
Content and Document Management, Lead Management and MIS