Insurance Industry Mobile Maturity Checkup

Insurance Industry Mobile Maturity Checkup (Part II)

James Hoshor | June 15, 2016 | Mobile Strategy

Welcome to Part 2 of the Insurance Industry Mobile Maturity Checkup. In this installment, we’ll discuss the importance of pursuing an Enterprise Mobile Strategy and the key components required to successfully deliver and manage mobile to customers and across the enterprise.

Over the past decade, Insurers have focused on improving their backend systems and applications to support internal users, losing sight of their agents in the process. Naturally, this ultimately impacts customer service and support. Most Insurers still maintain a product-focus mentality, fail to consider their entire user engagement ecosystem, and as a result are unable to deliver a seamless experience to employees, agents and customers.

The increasing adoption of mobility in the enterprise is inspiring insurers to rethink how they engage with agents and customers, and the business processes they use to support these interactions. Insurers are just now beginning to realize that investing in the modernization of legacy systems such as Agency Management Systems—while important—is only half the equation, and that a gap persists in the integration and sharing of data between all users—both internal and external.

However, the constant evolution of mobile technology is creating an unusual challenge for insurers and suggests they are failing to see the forest for the trees. A 2016 JD Powers & Associates Insurance Digital Evaluation Study of over 3,800 consumer experiences asserts insurers are so focused on digital offerings like online quoting, they are overlooking basic, essential user experiences. Tasks such as printing or requesting ID cards, and adding drivers or vehicles to a policy were reported as difficult by consumers.

Similar surveys demonstrated that what insurers think customers want or expect differs from customers’ actual desires and expectations. Insurers assume customers are concerned about accessing multiple engagement platforms (i.e. web, mobile, etc.) but in reality this couldn’t be further from the truth. In general, customers are not so much concerned with what platform they use as they are about receiving personalized offers tailored to their individual needs.

The challenges of enterprise mobility and the lack of empathy around what agents and customers need are indisputable evidence that developing an Enterprise Mobility Strategy would be game-changing for insurers.

The following outlines the primary components of an enterprise mobile strategy and the benefits derived from each:

1. Clearly define your business drivers and your goals for enterprise mobility.
Companies often feel overwhelmed by the number of mobile solutions available and have trouble just knowing where to start. The first step is to clearly define your business drivers (e.g. market growth, operational efficiency). Next, assemble a group of key stakeholders from all divisions of business and IT, and brainstorm mobile solutions through visualization, storytelling, and role-play. This process brings to light innovations beyond simple extensions of existing desktop applications. Explore use-cases that support key business drivers, leverage mobile technology innovation, and create unique user experiences.

2. Understand your mobile maturity level – Governance, App Delivery, Infrastructure, etc.
One of the common mistakes enterprises make is rushing to build a mobile app before they fully understand how it will integrate with the back-office, and how it will be supported, and by whom. To remedy this, be sure your organization first assesses its maturity (IT, business processes, etc.) and identifies any areas that need improvement before moving ahead and attempting to build a mobile app. When it comes to establishing a governance plan for enterprise mobility keep in mind that mobile adoption policies, procedures, vendors and standards vary by organization. It is important to establish a mobile competency center or center of excellence comprised of key stakeholders who possess the knowledge and authority to guide your mobile initiatives.

3. Identify potential risks – Data Access and Data Risk Profile.
With malicious attacks and security threats on the rise, it’s critical to ensure the security of corporate and customer data. We recommend conducting a comprehensive risk analysis of all proposed mobile use-cases and reviewing those policies and procedures in support of the mobile infrastructure. For each use case brought forward by the Business, you must understand the type of corporate data accessed and the potential impact of a compromise In security. Such analysis will enable you to devise strategies and implement solutions to mitigate risk moving forward.

4. Identify and prioritize IT projects and mobile use cases in a short /long-term roadmap.
The final step to formulating a successful mobile strategy to is creating a prioritized and phased Mobile Readiness Roadmap of IT projects and tactics. This roadmap should identify key initiatives around building an infrastructure for mobile—covering everything from app ideation, design and development to distribution, security and support. Divide the roadmap into “short-term” (90 days), “long-term” (12 months) and “future” (12–18 months) timelines based on business use cases, mobile maturity, potential risk and organizational readiness. Each initiative identified in the roadmap should be prioritized by its alignment to business needs, IT organization readiness and cost, ensuring the end result is a realistic roadmap, guaranteed for success.

In summary, a shared mobile vision across the organization is critical to achieving desired results. As your organization develops its mobile strategy, it is important that everyone realizes mobile is a continuous evolution of processes, tools, technology and capabilities. Your organization needs to develop a strategy and governance plan in order to continually evaluate and refine its approach to mobility.

Know who your target mobile users are and how and where you will engage them. Understanding the who, when, and how will ultimately help identify the what: that thing users want or expect in their moment of mobile engagement with your organization.

Every organization that is contemplating or currently delivering mobile solutions needs a well-defined enterprise mobile strategy and roadmap. That’s why we developed Enterprise Mobile Roadmap and IT Strategy Kickstarts. Our strategists help you visualize, define, and prioritize mobile opportunities—all while mitigating risk. The result is an Enterprise Mobile Strategy and Roadmap fine-tuned for maximum business benefit and end-user adoption.

James Hoshor

James is a Senior Mobile Strategist & Solutions Architect for Propelics. He has over 20 years experience in executive leadership, strategic planning, marketing and business development in information technology. For the past 10 years James has worked with many clients across multiple industries, including financial services, insurance, retail and manufacturing, approach mobile strategically to identify and deliver solutions that result in market differentiating solutions and great user experiences.

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