There are two beliefs tied to insurance innovation, said Michael Merwarth, USAA’s SVP of Strategy & Innovation during his keynote address at Insurance Networking News' inaugural DigIn Conference in Austin, Texas. One is large, old-established organizations are not good at change. The other is the industry is not changing fast enough to keep up with customers’ expectations.
“It’s important to USAA to make a member’s next experience as great as their last one,” Merwarth said. “But the thing is, our members don’t compare us to our actual competitors. They compare us to experiences they’ve had with Amazon, which delivers packages the same day.”
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