“One of these days the ground will drop out from beneath your feet
One of these days your heart will stop and play its final beat
One of these days the clocks will stop and time won’t mean a thing”
“These Days”, Dave Grohl, Foo Fighters
As we kick-off 2016, the time is now for industry decision-makers to make a profound difference in the way Insurance business is transacted. Not just for competitive position, but for future generations, shareholders and most importantly, for the customer. Peer group competitors are formulating action plans now to address the most pressing tactical and strategic business imperatives across the enterprise for 2016 and beyond. Are you? Here are five top focus areas for 2016 that I am hearing from insurance executives across both Life and P&C:
- Digital Strategy
- Talent Acquisition and Retention
- Business Outcome Approach
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Tags: analytics, Big Data, Cisco, collaboration, customer experience, digital, digital strategy, financial advisor, Financial Services, insurance, omnichannel, security
I am a millennial and my entire financial life fits in my front pocket.
Whether I am setting up automatic credit card payments, paying a friend back for a dinner he paid for, making my monthly rent payment, or buying the latest Wall Street darling stock; it can all be accomplished with four or five taps on my smartphone.
Since the advent of the iPhone in 2007, the app economy has flourished, and now there seems to be an app for everything. This is particularly true for the financial services industry. There are apps for banking, investing, measuring net worth, tracking expenses, processing payments, and for things that probably neither you nor I have even thought of yet.
This trend has spilled over from the world of simple financial transactions to the complex financial world. Exemplifying this perfectly is the astounding success of Quicken Loans, which has grown to become the third largest United States mortgage lender (by volume) after adjusting its strategy in the late 90’s to become a direct digital lender. And as you may have guessed, they have an app for that. Read More »
Tags: banking, Cisco, customer experience, digital, Financial Services, Millennial, personalized service, remote expert
‘Tis the season for bold and forward-thinking retailers to try new things! Excitement is building as many innovative retailers focus on areas to make the holiday shopping experience better for their customers.
Enhancing Retail Mobile Apps
Some retailers are using mobile apps to help customers spend less time gathering deals and waiting in line, and more on finding the gifts their friends and family want:
- Target makes it easy for parents to play Santa by enhancing their kids’ wish list app. This app includes new holiday games and a kid-friendly search function to add products in a “letter to Santa.” Parents then log into adult mode and respond to the letter, buy the presents directly, and share the list with relatives.
- Kohl’s mobile app lets shoppers gather all their deals in one place by scanning gift cards, Kohl’s Cash, and Yes2You loyalty rewards into a mobile wallet. Customers also enjoy accelerated checkout in stores using Apple Pay.
- Walmart’s mobile app lets customers build holiday wish lists by scanning items while shopping in stores, which can then be accessed by friends and family members using the app’s search feature. The app also directs consumers who order presents online to pickup locations in the store.
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Tags: alert, Android Pay, App, Apple Pay, channel, Cisco, Dick's Sporting Goods, digital, endless aisle, Gamestop, in-store, Kathryn Howe, kiosk, Kohl's, mobile, omnichannel, online, pickup, retail, shopper, Tesco
How often do you bank? ?
For me, it’s a few times a week, but more frequently when I have a few bills to pay. Today, digital technologies makes checking balances, transferring money and even depositing checks an “anytime, anywhere” process using apps and mobile devices. Banks and other financial institutions that plan to stay ahead of the digital disruption must find innovative ways to transform and differentiate themselves. Otherwise, they may end up a part of the estimated four out of today’s top 10 financial services giants that could be displaced by digital disruption in the next five years or as Chris Skinner predicts, ‘see all their margin on traditional products erode in the next decade’.
During our latest #CiscoChat, banking futurist Chris Skinner (@Chris_Skinner), chairman of Europe’s Financial Services Club, joined @CiscoFSI for a live and fun discussion on how banks can make money, when everything is ‘free’. When transactions are table stakes.
If you missed the chat, the full recap is here. Below, I summarized a few of the highlights and insights. Read More »
Tags: banking, Business Trends, Chris Skinner, ciscochat, customer experience, digital, digital disruption, Financial Services, Social Chat, social media
In my first #CiscoChat I hosted together with Anabelle Pinto, we were joined by Gaurav Pant and Sahir Anand from EKN Research to share their perspective and dig deeper into additional findings from Cisco and IDC. We started by defining who the digital consumer is, what type of services they’re looking for and what shoppers want and expect, all while providing the security they need.
Here are a few highlights from the #CiscoChat:
Who is today’s digital shopper?
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Tags: ciscochat, digital, omnichannel, retail, Ron Kjelden, security, shopper, technology, transformation, wi-fi