1. Forschungs-, Praxis- & Venture-Projekt 1 Institut für Wirtschaftsinformatik, Fr. Prof. A. Back Raphael Schilling & Nguyen Tran FPV 1 - Social Media in the Insurance Industry in the Insurance Industry
2. This is a joint project with ORACLE and the HSG IWI FPV 1 - Social Media in the Insurance Industry Harry Stehrenberger Prof. Dr. Andrea Back Nguyen Tran Raphael Schilling VP, Global Business Unit Financial Services Oracle EMEA Professor of Management with special IT, University of St. Gallen Master Student of Information, Media and Technology Management, University of St. Gallen Master Student of Information, Media and Technology Management, University of St. Gallen [email_address] [email_address] [email_address] [email_address]
3. 1 2 3 4 5 6 FPV 1 - Social Media in the Insurance Industry Introduction Insurance Social Media Maturity Model Market Analysis Innovative Business Applications Market Potential Strategic Options & Conclusion
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5. Introduction Insurance companies should consider Social Media FPV 1 - Social Media in the Insurance Industry Changing customer behavior When purchasing insurance services, younger people are influenced by 64 % by online platforms The Brand Science Institute 2009, N=1‘100 Other industries are actively using Social Media Industries such as telecom and retail have embraced the capabilities of social media and customer expectations are quickly growing into all sectors of financial services National Underwriter, 2010 Getting known to the customer Insurers can use social media to gather information about their customers and effectively conduct targeted marketing campaigns. National Underwriter, 2010 Insurance companies can be innovative “ Innovation doesn’t come first in insurance, but it doesn’t mean it doesn’t come.” Julian Pelenur, Founder, Chief Technology Officer, FirstBest Systems “ The potential business value [of social media] for the insurance industry is moving beyond just sales and branding to a stage where servicing benefits are equally important.” Karen Furtado, SMA ( strategic advisory )
6. 1 2 3 4 5 6 FPV 1 - Social Media in the Insurance Industry Introduction Insurance Social Media Maturity Model Market Analysis Innovative Business Applications Market Potential Strategic Options & Conclusion
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9. Maturity Model A cross section of EU insurance companies shows that even the leaders are interacting only at interaction level FPV 1 - Social Media in the Insurance Industry Listening Informing Interacting Networking Integrating 1 2 3 4 5 9 9 12 0 0 Reverse Order
10. 1 2 3 4 5 6 FPV 1 - Social Media in the Insurance Industry Introduction Insurance Social Media Maturity Model Market Analysis Innovative Business Applications Market Potential Strategic Options & Conclusion
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17. 1 2 3 4 5 6 FPV 1 - Social Media in the Insurance Industry Introduction Insurance Social Media Maturity Model Market Analysis Innovative Business Applications Market Potential Strategic Options & Conclusion
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24. 1 2 3 4 5 6 FPV 1 - Social Media in the Insurance Industry Introduction Insurance Social Media Maturity Model Market Analysis Innovative Business Applications Market Potential Strategic Options & Conclusion
25. Market Potential Most respondents were between 22 and 28 years old FPV 1 - Social Media in the Insurance Industry
26. Market Potential 93 % of the respondents do not have any experience with insurance offers on social media FPV 1 - Social Media in the Insurance Industry Usage Following Insurance Have you ever used any social media offer from a company? Are you following any company on Facebook? Have you ever used any social media offer of an insurance company? Yes No N= 45 Yes No N= 45 Yes No N= 46
27. Market Potential The majority of respondents is willing to connect to an insurance company in exchange for a 10% discount FPV 1 - Social Media in the Insurance Industry A 10% premium reduction would motivate 50% of the people to connect their profile with the one of an insurance company 20 % of the people are not willing to connect their profile with one of a insurance company An insurance company offers you premium reductions, if you connect your Facebook profile with the corporate profile. From which premium reduction on would you be willing to do so? Legend % of People willing to connect with corporate fanpage N = 45
28. Market Potential Already today a quarter of the respondents can imagine to be Facebook friends with their insurance agent Could you imagine to be connected with your personal insurance agent on Facebook? Your insurance company offers you fast and easy access to your costumer via Facebook. Do you see any advantage in this? Could you imagine to use Friendsurance? Could you imagine to recommend your insurance company in social media? It becomes possible to purchase insurances on the fanpage of the insurance company or via application. Do you see any advantage in this? FPV 1 - Social Media in the Insurance Industry Agent Relation E-Policy Friendsurance Recomandation Micro Insurance Yes No N= 46 Yes No N= 46 Yes No N= 46 Yes No N= 46 Yes No N= 46
29. 1 2 3 4 5 6 FPV 1 - Social Media in the Insurance Industry Introduction Insurance Social Media Maturity Model Market Analysis Innovative Business Applications Market Potential Strategic Options & Conclusion
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32. Backup FPV 1 - Social Media in the Insurance Industry
33. Market Analysis (1/5) FPV 1 - Social Media in the Insurance Industry Company Allianz Suisse AXA Winterthur People Spectators, Joiners / Conversationalists (Wiki) Critics Objective Talk: push / Support (Wiki) Talk: networking Strategy Targeted stakeholders costumers Customers, prospective employees Technology Corporate Website Website Website Facebook Fanpage existing but inactive Fanpage 1‘479 Fans, job offers, discussions, participation Twitter @allianzsuisse existing but inactive @AXA_Schweiz general customer information, interaction Youtube Channel advertisements only Channel , product spots, recruitment information, prevention material Blog N/A N/A Mobile Application N/A Axa App Other Wiki N/A Remarks Allianz Austria is more active on Facebook Allianz Germany has a mobile app
34. Market Analysis (2/5) FPV 1 - Social Media in the Insurance Industry Company Basler Versicherungen Generali People spectators, joiners spectators, joiners Objective Talk: push Talk: push Strategy Targeted stakeholders customers customers Technology Corporate Website Website Website Facebook Fanpage inactive Fanpage active since summer 2011 Twitter @baloise_ch inactive, future activity announced @GeneraliCH active since september 2011 Youtube Channel TV-adds only Channel Blog N/A N/A Mobile Application security app Infos, e-banking, e-insurance N/A Other N/A N/A Remarks
35. Market Analysis (3/5) FPV 1 - Social Media in the Insurance Industry Company Helvetia Die Mobiliar People spectators, joiners spectators, joiners Objective Talk: networking Talk: networking Strategy Targeted stakeholders Customers, prospective employees Customers, prospective employees Technology Corporate Website Website Website , RSS news feed Facebook Fanpage info about social activities, jobs, locations, events Fanpage ; events, viedeos, discussions, contests Twitter @helvetia mainly recruitment @diemobiliar_ recruitment Youtube Channel advertisements only Channel advertisements only Blog N/A N/A Mobile Application Helvetia Notfall Application Mobiliar Notruf Other N/A N/A Remarks
36. Market Analysis (4/5) FPV 1 - Social Media in the Insurance Industry Company Nationale Suisse Swiss Life People inactives spectators, joiners Objective listen Talk, energize Strategy Targeted stakeholders n/a Customers, prospective employees Technology Corporate Website Website Facebook n/a Fanpage : personalized, contests, interaction Twitter n/a n/a (in Switzerland) Youtube n/a Channel advertisements only Blog n/a n/a Mobile Application n/a Swiss Life Rechner calculation tool Other Remarks
37. Market Analysis (5/5) FPV 1 - Social Media in the Insurance Industry Company Vaudoise Zurich Connect People inactives spectators, joiners Objective - Talk: networking Strategy Targeted stakeholders - Customers Technology Corporate Website Website , Rss Feed Website Facebook N/A Fanpage games, product selling Twitter N/A @Zurich_ch Youtube N/A Channel Blog N/A N/A Mobile Application Vaudoise Zurich Connect Zurich Helppoint Other N/A Remarks
Notes de l'éditeur
Nguyen
ESM3 Model auch noch erwähnen, welches sich unterschiedliche Perspektiven anschaut. Wir fokussierun uns auf Social Media Nutzung im Umgang bzw. der Beziehung mit dem Kunden. Daher untersuchen wir die Versicherungsunternehmen auch aus dieser Perspektive.
Meiste sind zwischen 2 und 3. Vergleich mit anderen Industrien, e.g. Banken.
Es gibt durchaus potentielle Einsatzmöglichkeiten innovativer Geschäftsanwendungen mit SoMe.