Of the many meetings I had at this year’s ACORD conference last week in Las Vegas, one theme that came through in many of them was the impact a new generation of employees and consumers will have on the insurance industry from a technology perspective.
Mark W. Lewis, general manager, global insurance industry at IBM, described the issue as one of digital immigrants vs. digital natives. As a Baby Boomer who’s come to embrace information technology in my professional and personal lives, I fit into the immigrant category. Folks like my daughter and others just getting started on their adult lives and careers–who’ve grown up with personal computers and can text message like the wind–are the digital natives.
“In a few more years you’re going to have far more people who don’t even think about technology,” Mr. Lewis said. For the digital natives, IT is just a fact of life, not something that catches their attention.
“The most important part about that is you truly think differently,” he said. “The fact is the business world is being changed and it will continue to be changed by people like that.”
That everyday familiarity with technology will manifest itself in many of the decisions made by the next generation of business executives, Mr. Lewis said.
“One of the advantages that the digital natives will have is the more the business executive knows about technology, the better decisions he’ll make about what is possible,” he said.
The subject was at the heart of a meeting with Bill Hartnett, U.S. insurance industry solutions director at Microsoft Corp., as well. He and others from Microsoft were noting the impact the next generation’s expectations and experiences will have on the insurance industry, and promoting solutions to help address them.
A survey the company conducted earlier this year of adult “Millennials”–those 18 to 27 years old–show the issue cuts both in terms of the industry’s meeting its talent needs and in serving the next generation of insurance buyers.
The survey showed 91% of those questioned saying access to newer, innovative technologies would make them more likely to consider potential job opportunities.
Survey respondents also indicated they see the industry’s adoption of various technology-based customer service tools is an important issue, with 89% saying they think it’s important insurance companies provide Web-based customer support, 86% saying it’s important that insurance companies offer customers personal Web portals on which they can view their accounts and 76% saying it’s important they offer live online chats with agents.
They also are believers in blogs, according to the Microsoft survey, with 69% saying it’s important to them that insurance companies offer company blogs on which customers can post their questions or concerns.