Social media, social networking or the social web, along with companies that deliver all things ‘social’, are dominating discussions about the internet, advertising and communication in business as well as personal life. This appears to be an unstoppable bandwagon that all organisations must leap on before they are left behind; but is it that simple? The social network landscape is packed with choices and pitfalls for the unwary, so a careful, well thought out and appropriately nuanced response is required.
What's costing you dearly?
The insurance sector is often very conservative, perceived as slow moving, and operates with many long established business practices and processes. However, times move on, new business models emerge, and legacy processes become inefficient. Although IT has played an important role in supporting the industry over many years, it too needs to advance or will become inflexible.
Insurance companies might be wasting thousands of sales hours per year from poor processes and badly implemented IT, which increases costs, stifles revenue growth and adds risk. However, IT advances need to go hand-in-hand with business process improvements to ensure that organisations gain the maximimum benefit of being more flexibile, agile and efficient.