Wednesday, May 29, 2024
No menu items!
Ad

Top 5 This Week

bama cap

Related Posts

African Insurers Need to Review Their Mobile Strategies

- Ad-
Share this

image002

 

A report by Juergen Weiss based on the Gartner 2013 Global CIO survey, predicts that by 2015 at least 40 percent of the currently existing insurance-related, customer-facing mobile applications will be abandoned due to lack of demand.

- Ad -

Reason being, insurers have not designed their applications in a way that makes consumers want to use them and secondly, that consumers are simply not aware when these apps are  available.

Nevertheless developing customer-facing mobile applications remains the third most important technology priority for insurers. Rhys Collins, Head of African Operations for SSP, says in Africa this would be second or first priority. There is a definite correlation between the growing download of apps in Europe with wider smartphone adoption.

- Ad-

The percentage of users using a cellphone now far outweighs those using the internet. It is predicted that by 2017, 79% of users will have adopted smartphones as opposed to just 49% in 2013. Users want to interact with service providers via their mobile device wherever possible. This has been driven by the wide adoption of social media.

Collins says this raises three key issues for insurers namely:

- Ad -
  • How insurance customers embrace mobile insurance (the demand view)
  • What insurers should expect from mobile applications (the supply view)
  • What are the best practices for a better mobile insurance experience.

Weiss recommends insurers avoid investing in the design of mobile apps without first having a detailed value analysis. Only then should they develop a holistic app strategy that allows customers to seamlessly use the app, one that is integrated into the entire insurance value chain.

While the absolute number of mobile users in Africa looking to interact with service providers is far less than Europe, the opportunity still exists in certain market segments for one or two insurers to steal an advantage. Collins says the insurance industry has not identified a ‘killer app’ that will dramatically increase customer adoption

Share this
- Ad -
Caroline Vutagwa
Caroline Vutagwahttps://my.techmoran.com
Minding my own business is not enough for me that's why you will always find me minding Africa's Businesses as well as Technology and of course letting you know about it. Talk to me on [email protected]

Popular Articles