It is simultaneously the start policy application

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: nd accept customers” parts of the value chain from the insurance company perspective. It is simultaneously the “start policy application process” of the prospective customer insurance value chain. Insurance agents at the prospect’s home or place of business will use a laptop, smartphone, or other device to initiate transactions to collect the requisite information to provide a quote for the insurance policy. Prospective clients will initiate the application process from their home, office, or remote location by using either the web browser of their device or a native application for the device. ■ Information requests for prospective sales. This activity is a component of the “target markets” part of the insurance value chain. It is also included in the “articulate needs” and “find and analyze information” components of the prospective customer insurance value chain. Insurance agents or brokers in the field would use a mobile device to initiate requests to data repositories in their agency or the insurance company home office to gather information about territories and prospective clients for new sales, or about existing policyholders for cross-selling purposes. Prospective insurance customers would use their mobile device to seek out opinions, remarks, and ratings from their peers on social networking platforms, as well as to gather information from search engines and online insurance sources. Insurers will not find the path to offering world-class customer experiences easy It probably seems to insurers that with every technology advance, pundits pounce on the need for the industry to become customer-oriented. The emergence of m-commerce is no exception, and we believe that m-commerce demands that insurers be customer-oriented in their strategic approach to the marketplace. Customers, whether they are policyholders, prospects, or producers, will expect their transactions to be customized to their situation and rapidly completed. Insurers operate on a prod...
View Full Document

This document was uploaded on 12/31/2013.

Ask a homework question - tutors are online