Consumers will expect to be able to conduct all

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Unformatted text preview: conducted at network speeds, m-commerce changes all three simultaneously. Consumers will expect to be able to conduct all manner of transactions electronically and for the transactions to be completed in realtime or nearrealtime regardless of where or when the transactions were initiated. M-commerce also changes the nature of the relationship between consumers and the Web. Until m-commerce actually becomes a pervasive reality in society, businesses can continue to develop tactical plans and go-to-market approaches, and offer services guided by a “building-block” philosophy where people and the Web are separate but able to be connected when required. However, as m-commerce gains traction, businesses will need to shift their tactical plans, go-tomarket approaches, and service offerings based on a people/web/ organic relationship. An immediate challenge for insurers is to gauge how quickly to alter their strategic vision of the marketplace to better position themselves for competitive success. S TRAIGHT TALK I T 29 Insurance m-commerce is more than just financial transactions As insurers create and strengthen their m-commerce strategy, they must base it on their belief of what m-commerce means for the insurance industry as a whole as well as for their own company. Ovum believes insurers should avoid the natural instinct to limit the definition of m-commerce as dealing only with financial transactions. Monetary flows are important, but focusing entirely on financial flows is an incomplete description of commerce in a marketplace that is increasingly being reshaped by the marriage of web and wireless capabilities. With this in mind, we would define m-commerce for the insurance industry as commerce encompassing financial transactions and information transactions, or both types occurring concurrently. People will share the m-commerce spotlight with physical artefacts A requestor of an m-commerce transaction could be a person or a physical artefact. In today’s webenabled marketplace, semi...
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This document was uploaded on 12/31/2013.

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