Over the last several months, the phrases ‘times are changing’ and ‘customer expectations are evolving’ have been published countless times. While these thoughts are timely, they’re static. It’s well established that the shift in consumer expectations, along with lightning fast advancements in technology, are driving the need for insurers to rethink the customer journey. The more interesting questions are – what does this disruption mean for me and how can my organization quickly adapt to leverage the disruption in our favor?
CCC will explore these questions – among many others – at InsureTech Connect 2020 during a featured discussion. Industry thought leaders Deniz Cultu, Partner at McKinsey & Company and Jen Hebert, VP Emerging Technology at Root Insurance will join Jason Verlen, SVP Product Management at CCC and lend their expertise to this critical conversation.
During the session, we’ll take a closer look at changing consumer behavior, such as the accelerated adoption of digital tools. For example:
- 75% of Americans have tried new shopping methods this year.1
- App downloads for Instacart, Walmart and Shipt surged by an average of 150% in March compared to February’s traffic.2
- Telehealth visits surged more than 50% during that same period.3
These jumps are significant, and 62% of consumers cite convenience as the primary driver of the change.4 But again, what does this disruption mean for you? Will these new behaviors stick? Will the release and wide accessibility of a COVID-19 vaccine send consumers racing back to the ‘old way’ of doing things?
Clearly, insurance processes are ripe for disruption, and while there are complex challenges to overcome, they are not insurmountable. Please join us to learn more about the role data and ecosystems play in achieving a complete view of the consumer and delivering differentiated customer experiences.
We look forward to seeing you on Tuesday, October 20 at 3pm EST to hear how McKinsey, Root and CCC are rising to the occasion of changing customer demands.