El Segundo, Calif., - Insurers feel the need to develop original approaches to attracting and retaining customer in various market segments. During a two-day conference hosted by Computer Sciences Corp. (CSC), a few insurers gave examples of these approaches.Panelists at the conference noted that insurance marketing programs must appeal to three distinct generational groups: Generation Y (ages 18-29), Generation X (ages 30-40) and baby boomers (ages 41-59). Each group has distinct demands for service; therefore, insurers must offer different Web-based services that address their consumers' varying levels of comfort with technology.
"All innovation in the last 20 years can be attributed to software, and it's helped us change our business from transaction-based to more of an interactive relationship," says Lori Lehmann, director of Legal Initiatives at Columbus, Ohio-based Nationwide Insurance Co. "Consumers are more comfortable with technology than ever before, but if potential customers on your Web site can't get a quote in seven to eight minutes, if it's too complicated or there are too many fields to fill out, they're going to bail. We need to make sure we have the internal talent or a third-party supplier that can continually streamline those processes."
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