financial services

Keynote & interview Eurapco Insurance

<op 26-09-2013 gaf ik keynote op het Eurapco congres waar top EU verzekeraars expertise delen.>

We live in a world of rapid technological change. Keynote speaker and IT expert Arjen Kamphuis discusses the implications for the insurance industry and its customers, and what measures can be taken to ensure the best possible customer experience. The objective was to raise awareness of the rapid pace of socio-technical development today and what fundamental effects this will have on the insurance industry. Changes in customer behaviour and expectations will have an impact on customer satisfaction with our companies’ claims handling.

Future shock – are we prepared for change? Some of the topics discussed in the keynote

  • What if tomorrow’s world looks really different? The basic rules of our business can change at incredible speed because of changes in technology, national/EU/ international policies, environmental threats and other external factors. New technology can overtake existing business models, and even make them irrelevant. The insurance industry faces the challenge of combining the need to be stable, secure and reliable with being dynamic, fast and responsive.
  • Cyber security needs to be taken care of, both within companies and between companies and their customers. Privacy issues are of great importance for insurance companies. For instance, it would be damaging for the image of a stable, secure and reliable insurance company if it were to be revealed that all customer data had been fully exposed by hackers or the NSA.
  • Today, all large service companies need to balance industrialised processes with the human touch. As a customer, you do not want to be exposed to the internal processes of your service provider. The customer just wants to receive service in an uncomplicated way. Changes in customer behaviour and expectations will have an impact on customer satisfaction with our companies’ claims handling.
  • Our companies’ brands face increasing danger in a fast-paced world of social media. Our customers rely more on the experience of others than on the promises of the companies. Through social media, good and especially bad experiences can be shared easily and quickly. We can join the conversation about our brand, but not control it.
  • A fast-changing world offers opportunities and threats for your business and your position in the market. Are you ready to adapt to changes in customer expectations? Is your organisation positioned to deal proactively with change, or could you be caught off guard? Do you have a plan for what to do if an improbable case scenario does occur? By carrying out regular scenario planning, you can at least have contingency plans for different case scenarios.
In your keynote speech, you mentioned that it’s very hard for anyone inside the insurance industry to see the world the way a customer, or other outsider, sees it. Can you, as an outsider, give us some tips about what is needed to achieve excellence from a customer’s perspective?