How Insurance Works

Les transformations du secteur de l’assurance grâce à la technologie | UX


EVERYDAY INSURER:
INSURANCE COMPANIES OF TOMORROW The disruption of the insurance business,
a major challenge for the profession, was debated during the recent “HUB-TDAY” days
dedicated to the sector. It began with a review of changes to the business
entitled “Everyday Insurer”, of which the results were presented
during an opening conference dedicated to visionaries. There are two things which are going to change, compared with what we are used
in the insurance industry. The first thing is that this “Everyday Insurer” is going to move up the consumption chain
to make contact with its customers’ habits. Where I was previously downstream
in the consumption chain, firstly I chose a product or a service then possibly I asked myself the question about
how I am going to buy it – what financing ? – and then, possibly, I considered
the issue of insurance. From now on, insurance is going to make
contact with customers’ habits. That is the first element. The second element, completely new
with the Everyday Insurer, is that we are going to try to solidify and re-enchant
the relationship with the customer, where it was previously very cold
and particularly discontinuous. There is a claim, there is a policy subscription,
but between the two, nothing much happens. The issue is how I manage to increase the
points of contact with these customers and ensure that these points of contact
generate much more pleasure . Pleasure, a notion that is far
from being incompatible with insurance. I believe it will be possible
to share this pleasure. Firstly with all our employees. And there, there is an evolution, perhaps
even of culture in certain businesses. And in order to be able to share this pleasure
with our customers and to show them that we can be part of their daily lives, facilitate
it, and ensure that life runs more smoothly. Yes, I believe this. Pleasure, yes, on the condition of not allowing
ourselves to be enclosed by the technology. I believe that the error which we could make
is to take the technologies and wonder what to do with them. So what we have to look at is what our customers’
needs are and how their lives are changing. Society is currently undergoing fundamental
changes – longevity, modification, family structure and changes
to the relationship with businesses. When we take all that in, what do we want to offer to our customers ? and how can the technologies support that? This is how we must look at things
and, this is where the technologies will be able to facilitate
this strategic evolution for us. Using technology well, a significant challenge
for the insurance companies. But the latter also have to face up to the
disruption that they lead to in our daily lives. The insurance landscape is going to be
profoundly disrupted. Not as quickly as some believe, in my opinion. Obviously, there are the classic issues that
keep coming up, which concern Data, the black gold of the 21st century. There is artificial intelligence,
connected objects, autonomous vehicles and the collaborative economy, which each represent
a challenge to insurance companies. I believe that all these challenges
deserve concrete responses, and what I currently observe in the lanscape is that we have a strategic
analysis of the issue that is fairly relevant. However, concerning the execution part, there
are very significant margins for manoeuvre and those who will be capable of ensuring
efficient, steady execution, with good resources, will gain a competitive advantage
over their competitors. And that could well be new arrivals,
not always originating from the sector, and ready to do anything to disrupt it. The fact of developing new services,
insurance-related offers and completing our role and the way in which
we interact with our customers, is without any doubt the best way of preparing ourselves and of
mastering what is or could be this risk of uberisation. Pleasure, proximity and new services. The Everyday Insurer of tomorrow
needs to be decided on today, even by adopting the methods
that are dear to start-ups. It also involves not setting limits. This means considering things which one would
not have naturally considered, or even which our customers
would not naturally have considered, but using a test and learn methodology,
part of an agile approach, which enables us, while developing rapidly
and testing everything just as rapidly to see if there is any appetite
on the part of our customers, and any adherence
on the part of our intermediaries. Insurance companies of the future,
an industry under construction, which now promises to combine
technologies and human values. MyD-Business
The media which decodes business transformation


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