Monday, November 16th
3:05 p.m. - 3:45 p.m.
Building Quality Into Insurance E-Commerce
--Cynthia Hine, Quality Insurance Council
"Insurers Should Help Clients With Technology"
Embrace technology and share it with customers. That is the key to succeeding with e-commerce, said Cynthia Hine, senior consultant to the Deragon Group.
"If you can make friends with the technology and not only use it internally,but assist customers in that endeavor and help them use it and become comfortable with it, you will achieve quality and that will become your competitive differential," Hine said, speaking at the A.M. Best Co. annual Insurance Information Management Conference in Boston
The Deragon Group oversees the Quality Insurance Congress, an industry-sponsored organization dedicated to improving customer satisfaction with insurance providers.
A customer survey conducted by the Quality Insurance Congress early this year indicated that consumers expect the use of technology to become a more important factor when deciding with whom to do business.
By 2000, the decision will be based 40% on the personal relationship, 30% on expertise and 30% on technology, Hine said. Insurance customers said the decision currently is based 60% on relationships, 30% on expertise and 10% on technology.
Insurers must harness technology to gain flexibility. They need tools that are easy to use to put risk data into a format that can be easily manipulated, Hine said.
Insurers need to develop the ability to access data and convert it into a format that is accessible to everyone in the organization who needs it. And, they need to be more nimble.
"Time is the golden nugget of the new millennium," Hine said. "We're not going to move quickly with the kind of slowness and huge gears we have.".
Insurers also must become more comfortable with measuring how well they are achieving their goals and being measured by customers, she said
"Financial success can't be the only mark of success," Hine said. "Quality has to be achieved."