7 Elements of a Strong Mobile Insurance Business Case

The digital world has changed. In the space of a few short years, consumers’ devices of choice for shopping and communication have shifted from desktops and laptops to tablets and smartphones. As a result, insurers have quickly had to pivot from just getting their feet wet in the mobile application arena to developing robust programs that are now front and center in the customer experience, and a significant line item in digital budgets. This rapid rising of mobile budgets is a central component of a new report from Forrester Research. According to the report, last year, 52 percent of insurers surveyed said they would increase mobile budgets by at least 5 percent, while 14 percent said they would increase more than 10 percent as insurers’ market positions increasingly depend on mobile strategies. Forrester also finds that insurers are responsible for responding to evolving customer demands in order to increase market share and build brand loyalty. As a result of these and other factors, mobile has become business critical for insurers. Follow along to learn what elements Forrester’s deems to be part of a strong mobile insurance business case, as well as some key questions insurers should ask themselves at each step along the way. And for further reading on the topic, check out our expanded coverage: “Mobile Now Mission Critical”.

What is the mobile initiative about? What are the key questions to answer for this project?

How does mobile fit in the customer journey? How do our current and target customers use mobile in their daily lives?