Friday, 4 January, 2013 Leave a comment
Trust me, because I speak from personal experience, it is a hard (frustrating, lonely and costly) path you tread when advocating fundamental change for an industry such as insurance!
Of course there any number of firms ready and willing to tell the insurance industry about the merits of their particular social media (Social Business) solutions…there is even a forthcoming event, “Digital Insurance Strategies 2013”…BUT, very few have sufficient knowledge about the number and nature of the industry’s root and branch problems. I fear there isn’t much scope for help from within an industry: in denial of the failings of the prevailing model and culture; structured for selling – push not pull; hampered by a prediction addiction; too closely-coupled to its supply chain to adapt to a changed environment; devoid of truly innovative [creative destruction] ideas – a long and inglorious record of self-serving destructive creation is no substitute and has the opposite of the desired effect, which leads to; the inability to afford the requisite level of transparency required to (re)build customer trust and loyalty.
For a digital strategy to be effective and sustainable in the Digital Age requires i2o [inside to out] change…otherwise it could be a, short-lived and very expensive exercise in turd-polishing!!! Read more of this post