Insurers can learn from tech firms about customer relationships
Insurers should follow the lead of technology companies and establish more interactive ties with their policyholders, according to Sam Friedman, insurance research leader at Deloitte's Center for Financial Services. Insurers design mass market products and deal with buyers through intermediaries. Tech companies, however, tend to maintain customer relationships through the product lifecycle. Establishing closer relationships with insurance customers is increasingly important as tech giants such as Google become more involved in driving and insurance through self-driving cars. Cars generating real-time data could form the basis of a more service-focused relationship rather than just a finite sale.
Insurers looking to up their game on customer service should follow the lead of technology-driven companies when it comes to establishing closer, more interactive ties with their policyholders.

This was the first thought that came to me after attending a recent briefing by a former auto executive talking about the implications of web-connected cars. I went in laser focused on the issues relating specifically to insurers—including telematics, new safety technologies, and, of course, development of “driverless” vehicles. But I came out of the discussion realizing that insurers actually had a lot in common with auto manufacturers when it came to customer service and fears of being disrupted by more web-centric competitors.