P&C insurers currently lead the industry in terms of mobile integration, while many health and life insurers have made investments in mobile capabilities as well, according to “The State of Mobile Insurance in 2013,” a new report from Forrester. The overall pace of investment, however, prompted Forrester to warn insurers making only limited mobile efforts that they will soon give up certain competitive advantages to insurers more aggressively pursuing the channel.
“Customer expectations are rising fast, leaders are making substantial investments, and the time required to build infrastructure, skills, and expertise means that laggards won’t be able to catch up fast,” the report says, adding that insurers need to “obsess” over matching business objectives with customer needs. To do this, the report says insurers should look for problems that mobility can fix, watch how customers behave and seek direct feedback from them.
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