Call +1 508 435-3136 • Email barry.rabkin@marketinsightgroup.com

Progress and Plans

Project Description

Our First Three Months

When we launched Market Insight Group in July 2014 (www.marketinsightgroup.com), we knew where we wanted to go. We are following the path brightly lit by three emergent, interdependent technology-enabled macro forces: Throughout our journey following this path, our intent is to determine the current and emerging impact of these three interdependent forces on (non-health) insurance markets, customers, and channels.

Chesire Cat“If you don’t know where you are going, any road will take you there.” The Cheshire Cat said to Alice.

Progress

We created an abbreviated research agenda for 2014 (http://marketinsightgroup.com/market-insight-group- research-agenda/ ) delving into geospatial solutions, sales productivity platforms, and consumer digital / social media. Why geospatial? In a mobile digital marketplace, knowing about location, and what is or could happen in a location, becomes even more critical. We have published our two reports about geospatial – one Insight report profiles six geospatial technology vendors and the second Insight report discusses how six PC insurers are using geospatial solutions. Our geospatial reports also encompass what we believe are the four levels of geospatial literacy, a set of illustrative geospatial initiatives along the insurance value chain, and our ideal portfolio of capabilities in a geospatial medium. (Well, geospatial is a medium, after all.)

Along the way since our launch in mid-July we discovered Clari. Clari is a mobile-first real-time Big Data algorithmically-driven sales productivity platform crafted entirely from a sales representative perspective. Quite a mouthful. Exciting enough that we felt compelled to investigate Clari further and we wrote an Insight report about it. Although Clari doesn’t target the insurance industry, it offers a state-of-the-possible solution which insurers and insurance technology firms should know exists. (Yes, we know that Salesforce introduced Wave, a new analytical solution for its clients, at Dreamforce 2014. But, does it provide information customized for each sales representative’s deals and relationships like Clari does?)

Turning to another topic in our abbreviated 2014 research agenda: consumer digital and social media. This is certainly in the sweet spot of the three interdependent forces. We’ve heads-down working on our collaborative research with Terry Golesworthy about the impact of consumer digital / social media on the insurance industry.

Terry is the president of The Customer Respect Group and is an acknowledged expert in social media and the various ways in which insurers are using social media.

Our plan is to have a rough draft of our co-authored Spotlight report late fourth quarter of this year and the final report published early first quarter, 2015. Insurers and technology firms – let me know if you want to participate. Caution: we will send you a list of questions which we need you to answer.

Moving back to other analysis we have finished: we have three QuickNote reports and several blog posts which are freely available to anyone who clicks over to http://marketinsightgroup.com/quicknote-reports/ for the QuickNote reports or to
http://marketinsightgroup.com/rabkins-roi/ for the blog posts.

Our QuickNote reports discuss Pitney Bowes new strategy, Oracle and Salesforce’s approach to verticals, and our modest suggestion of an insurance customer- facing value chain.

Our blog posts cover our thoughts about the Internet of Things (IoT), the IBM/Apple partnership (we are excited about it), whether insurers are really getting ready to compete in a customer-centric marketplace, and a suggested framework of different types of systems which insurers use from systems of record to systems of engagement to systems of enterprise applications to others. Perhaps I went a tad overboard.

Plans

By the end of 2014, we plan to publish our annual “what’s going to happen in 2015 and what should insurers do about it” report.

In 2015, we plan to write eight reports: six Insight and two Spotlight reports. We plan to analyze topics such as the digital insurer, the role of mobile in insurance sales and service (we pushed this from 2014 into 2015), the Internet of Things, Big Data (in collaboration with another insurance technology analyst – stay tuned for the Big Reveal), customer-centric marketing, enterprise content management, geospatial life insurance applications, and, of course, 2016 technology-driven insurance trends.

Send me your name, company name, and email address if you want me to send you our more “formal” 2015 research agenda.
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