This presentation by The Digital Insurer was given at IDC conference in Singapore in September 2013. It is a strategy for digital transformation and argues that tablet toolkits are the pivotal technology for that transformation to more digital and customer centric future.

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Enhancing the Agency
Network – The Digital Advisor
Hugh Terry
Editor & Principal
The Digital Insurer

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Think Digital: Transform your
Agency insurance business
Presentation is online

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Four Discussion Objectives
1. Digital – it is a revolution
2. Digital will transform face-to-face advisory channels
3. Tablets point of sales toolkits are pivotal
4. How to Transform?
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Life Insurance as focus
For today’s discussion
If there is time…

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The Digital Revolution:
it will not be televised
Digital
Convenience
• Always on
• Always there
• Universal
• Almost free
Digital
Connectivity
• Access to
information
(Google)
• Access to each
other (Facebook)
• Access through
devices (Apple)
• Location-agnostic
(cloud services)
Digital
Expectations
• Data “on demand”
• Desire for clarity &
simplicity
• Dialogue not
monologue
• Easy to promote a
product .. and
complain
Change, Change, Change….
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Two digital “Mega” trends : forces beyond
anyone’s control
1. Technology is cheaper and
easier to implement than
ever – it is the fulcrum to
meet consumer needs,
reduce operating costs and
to change your culture
2. Changing consumer
behaviour – they are
demanding and seeking a
different experience
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4 digital Insurance business
opportunities (& threats)
Create New Models
1. Pilot New Digital models : Partner
with companies with digital assets
to create new models
2. Digital Worksite Marketing:
unlocking the hidden value in your
employee benefits business
Transform Existing Models
3. Transform Life insurance Advisory
Businesses : The Digital Advisor
4. Digital Cross Selling: personal
lines, asset management, banking
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Focus for Today

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Welcome to Digital Customers : they are
“Hybrid”
The hybrid customer is…
• Better informed
• More demanding
• “Multi-channel” for both
sales & services
• Will jump channels at
any point – catch them if
you can!
The Hybrid
Customer
Face
To
Face
Online
Phone
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Myth #1: Digital is a new distribution channel
Reality : Digital enables customer engagement

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Anchored to basics : Digital Advisor strategies need
to leverage insurance fundamentals
Digital impacts
Trust is at the
heart of
insurance
As customer research on-line trust will need to be
developed and leveraged on-line
Trust must be earned and reinforced in every
interaction
Great
insurance
advisors -
always in
demand
When customers research online they will research
their advisors as well….
Less time face-to-face – but no less important
Insurance advisors need to be more mobile (digitally
& physically)
Customer
service matters
Mobile technology provides opportunities for cost
effective customer service differentiation. Customers
will expect this – a hygiene factor very soon
Cannot transform customer service with current “back
“office
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/App

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1. Managing the Sales Funnel
• Co-partnership models for lead generation
• Apps to generate leads from the “digital
cafes”
• Analytics has a big role to play
• Get the lead to the right person
• Lead management systems to manage
multiple leads , measure ROI and promote
better practices
Business outcome:
- More leads
- Better quality leads
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1. LEADS

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Policy Record Systems
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Customer Experience Centre
2. Build a “digital eco-system” around
legacy policy system to treat customers
like customers
• Customer portals/apps : an on-line
marketing capability for customer
engagement leading to cross sell / upsell
opportunities
• Customer experience centre : multi
channel customer support to connect
customer interactions – a digitally
assisted customer service revolution (the
engine room for converting “big” data
into business)
• Advisor portals: customer data and
advisor performance
Business outcome:
- Building deeper, richer and better
relationships with customers and advisors
- Facilitate and co-partners the advisors to
better meet customer needs
- Allow “farming” as well as “hunting”
2. SERVICE
/App

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3. “connecting the
eco system”
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3. SALES

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Tablet sales toolkits : a pivotal tool in the
transformation process
1. Access sales aids/ brochures
2. Identify needs
3. Produce quotes and help to
close
4. faster, easier and more accurate
proposal submissionKey Success factors
• Must be Designed for Advisors
• Easy to use with a “wow” factor that encourages use with
clients
• Great usability is critical: engage/delight customers &
advisors 13
Tablet Functionality:
Focus on the parts of the sales
process that engage with customer

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Tablet sales toolkit : Easy business case
Primary benefit
Improved Sales effectiveness
through a better customer
experience
Measured by :
- High tablet usage from
Advisors
- Increased sales productivity
per month
Other Benefits after success
1. Back office productivity from
digital proposals
More efficient
Faster & more accurate (clean policies in a
day)
2. Reduced agency overheads :
premises & technology costs
3. Business intelligence
Benchmarking data
Usage data
“Bigger” data
4. Improved compliance to sales best
practice (& regulatory
requirements)
5. Recruitment training tool
6. Platform for more automated
underwriting

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AIA Case study: a tablet success story
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Full AIA case study available on-line
AIA’s Journey
1. Initial Pilot in Taiwan (end 2011)
2. Rollout in 3 countries completed (Singapore, Indonesia and Malaysia)
3. Further 6 countries to complete in 2013 (6-9 months per country)
Compete set of functionality
“The adoption of iPoS goes beyond our
expectations. In one country more than
80% of the new business is coming in
through iPoS within 12 months of launch
and in another country it was more than
30% after 3 months. The agents just love
iPoS. All other indicators such as
productivity, activity or case size are equally
positive and better than expected.”
AIA Executive leading the development
Results exceeding expectations

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The Digital Advisor : Where should you be 5 years
from now?
Agency KPI’s for 2018
Leads
50% of leads from digital
engagement activities
Twice as many leads per advisor
insurance
advisors
At least 2-3 times more
productive
50% fewer advisors
100% tablet usage for all new
advisors – core tool for sales
Customer
service matters
50% reduction in back office
staff
But at least a corresponding
increase in customer facing staff
supporting digital service, sales
and lead processes
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Digital will transform
Agency operating
models

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Tips for successful digital transformation
Strategic Alignment
Digital as a transformation opportunity
The importance of Tablet POS toolkits
Comprehensive business case
approved
Resources dedicated
New Implementation approach
Customer centric (outside in)
Fast pilot (AGILE)
Explicit change management
Distribution owned
Launched like a product
Advice : think about Tablet POS toolkits as the “pivot” for your change
strategy
Reality : Digital will challenge, and transform, your organisational
structure

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Mission accomplished?
1. Digital – it is a revolution
2. Digital will transform face-to-face advisory channels
3. Tablets point of sales toolkits are pivotal
4. How to Transform?
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www.the-digital-insurer.com
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Building tomorrow’s digital
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Hugh Terry
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