25 Years of Disruptive Industry Insight
Futurist Jim Carroll has headlined dozens of insurance industry association conferences and events, as well as leadership meetings for many major global P&C / Life & Health / Wellness and Group Benefit Insurance companies. During these events, he has covered the disruptive forces changing the industry at blinding speed, including the acceleration of personalized insurance business models, advanced analytics and real-time underwriting
When Salesforce, the worlds largest CRM technology platform, went looking for an industry expert to open their segment for the global Insuretech conference, they asked Jim Carroll to update his in-depth industry insight with a detailed overview of how the insurance industry has been impacted by Covid-19.
They asked him to deliver this in a concise 15 minute video that would be used in tis virtual online conference.
This page details the results of that project.
Detailed, Customized Insight Delivered for Todays Virtual Audience
Professionally Produced, Concise Delivery, Content Rich Insight
WATCH THE FULL 15 MINUTE VIDEO
There are 8 key sections within this 15 minute video, “The Future of Insurance in the Era of Covid-19”
To give you a sense of Jim’s work, we’ve broken down the video into those segments below, but you can also watch the entire video in one go right here.
The 8 separate sections are as follows:
- Introduction : Consider how quickly our world has changed!
- A Look Back to 2013 : What were global CEOs worried about?
- Disruptive Insurance Trends Pre-Pandemic
- Thinking at a Macro level : How has Covid-19 changed the world of business?
- Covid has held a mirror to the industry – and has resulted in some critical new thinking
- Customer dynamics and behavioural change now drive your destiny
- Reframing the innovation agenda in the era of Covid-19
- How are you doing in this innovation journey?
Introduction: Digital transformation is no longer an option!
- we have seen staggering rates of change due to Covid-19
- 10 years of trends were squeezed into six months
- more people are using digital channels than ever before
- the bar for digital business for insurance companies is now set by Apple, Netflix….
A Look Back to 2013
Futurist Jim Carroll spent time with CEO’s in the insurance industry in 2013 in a small, intimate industry session. What were they worried about in 2013?
- Biggest challenge and opportunity is ability to develop a relationship with the customer
- Mobile technology is key in forming that relationship
- Can we meet the expected customer experience fast enough
- Disintermediation coming back with a vengeance
- Do we have the agility and flexibility to align ourselves to rapid customer expectations
Disruptive Insurance Trends
Pre-Covid 19, the insurance industry was already in the midst of significant upheaval – Futurist Jim Carrol was covering many of these disruptive trends at industry and corporate events worldwide, including these issues
- Insurance industry was already in midst of massive
- As a result of massive hyper connectivity we were
dealing with massive disruption with acquisition channels
- As a result of social media branding, mobile
technologies and other influences are attracting new consumers
- Real time risk underwriting
- Shift in speed of change in the industry as insuretech and fintech companies come to drive the innovation agenda
- HBR reports 70% of insurance executives believe the pace of change is being set by technologically savvy companies
- That in itself drives the need for digital innovation
Thinking At A Macro Level
How has Covid-19 Changed the Business World? These are the big changes which have occurred!
- Covid has changed and shaped the transformation
agenda for many organizations
- Virtualization of entire industries overnight!
- Impact is that organizations have learned something new
about speed and agility as they have had to
practice what they preach
- We have had to move so fast that the decision making paralysis has come to an end
- New winners are emerging with key success factors for moving forward being speed, agility and flexibility
- You are either a part of this transformation or you’re not!
Covid Has Held A Mirror to the Insurance Industry
Customer Relationships Have Changed Forever
- Covid has highlighted where things are broken or in some cases where innovation and transformation is absolutely required
- Think how businesses around you have changed because of Covid
- Customer relationships have forever changed
- Biggest changes in customer acquisition, interaction and support
- We have seen a complete transformation of how customers expect to do business with us
- Ask yourself – how hard is it for your customers to do business with you today?
- Every organization is now ranked against the best – Amazon, Apple and other digital leaders
- Customer expectation of sophisticated self service interactions; an instant buying process with instant confirmation; and personalized, relevant recommendations
- Without these you face an increasing loss of loyalty and customers
Your Customer is Now in Charge of Your Destiny
Your customer now controls your future destiny – and if you don’t innovate in this context, you are lost!
- You need to deliver simplicity on top with complexity underneath
- A robust, scaleable customer focused infrastructure
- Competition has been redefined!
- Customer is now in charge of your destiny
What Do You Need to Do? Reframe Your Innovation Agenda
- Innovation is not just about new products
- Innovation is asking how do we run the business better, grow the business and transform the business
- Many insurance companies have focused on seeking efficiencies and cost savings
- But have you looked at how to innovate with distribution channels or how to speed up product innovation and development
- Covid has put digital transformation to the front of the innovation agenda!
- Have you reassessed your innovation agenda?
How Are You Doing in This Innovation Journey?
- We are only at the starting stage at the transformation experience
- HBR study – only 7% of insurance executives believed their entire operations were digitized, barely 1/3 ranked themselves at a 8, 9 or 10 out of 10 on digitization
- Having a transformative mindset is key!
- The speed with which new customer demands are emerging is staggering
- Check your speed, is your company able to move with the sudden shift of customers to the online world?
- Companies talked about collaborative workforces for years, suddenly massive virtualization of entire workforces happened overnight
- Agility. Flexibility. Speed. Your new reality!
These are a few of the organizations that have booked Jim Carroll in the past. He has spoken for senior leadership meetings for the world’s largest companies.
Custom Video Keynotes
With Futurist Jim Carroll
25 years on stage with global clients like Disney, NASA and the World Bank, Jim Carroll excels at delivering the same customized insight, high-energy presentations, with full interactivity, from a state of the art virtual home broadcast studio.
In a world of talking-heads delivering stale content via boring Webinar backdrops, you will discover in Jim Carroll effective online leadership insight in an interactive broadcast style that redefines the state of the possible, the opportunity for attention grabbing online content, and engaging interactivity.
This page will help you understand the many different virtual offerings Jim Carroll can provide to you.
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Virtual. Done Right!
Jim Carroll has become recognized as the world’s leading virtual keynote speaker.
- Jim has a 25 year track record with events similar to yours. He knows what works, how to deliver, and works with you to achieve your objectives. Experience counts.
- Live, interactive keynotes streamed online or pre-taped professionally produced video
- Live events are professionally produced from a sophisticated virtual green screen studio
- Pre-taped videos are produced with an overseas professional video editor
- Your online event is further enhanced with opportunities for short pre-event ‘teaser’ videos or by distribution of post-event summary videos
- Multiple platforms are supported – Zoom, GoToMeeting, Microsoft Teams, etc
- Interactivity through Q&A, text message polling, professional white boarding services, event production and more
How it Works
- A sophisticated, home based virtual broadcast studio with green screen technology
- Video backdrop can be customized with multiple different ‘stage sets’
- Drop down / picture in picture video, text bullets, Keynote / Powerpoint slide options
- Fully customized message delivered with the customized, detailed research for which Jim Carroll is known
- Segments of 4-5 minutes broken up by online audience interaction designed for short attention spans
- Interactivity through text message polling, Q&A and other online tools
- Formats of 30 minutes to 1 hour
- Pre-event tech-rehearsals to ensure smooth and reliable integration into your event
- Opportunities for re-use of recorded material