Assignment: Reflection               Chris Humphries

June 11, 2016

Challenge:  The issue involves how you get your customers to understand the value of the services that  you offer to them in an intangible environment.  Working I the insurance industry we are basically  offering an intangible product that has generally been looked at from a pure pricing standpoint.  Having  the customer understand the value that you bring to the table is basically a foreign concept.  We are not  in a product world where Apple is able to sell upgrades the product and people want the next version.   Think about it, does someone really go out, read their insurance policy and want the latest and greatest  version?  No, they want the less expensive price, until something goes wrong and then they may realize  that they needed additional or different coverage(s).

Selection: There are two tools that I think can be used from standpoint to assist with the challenge,  visualization and storytelling.  I am going to use the storytelling model, as I believe it is the most  appropriate, however, good visualization in conjunction with storytelling is important and would need to  use at times.

In listening to the lectures, be able to tell a story that is compelling about an issue in the insurance  industry may provide insight to the customer as to why your policy or services are better.  One great  example about the story telling is the Farmer’s commercials on television.   Farmers insurance have had  the ability to relay true data driven claims stories to the audience to allow you to understand some of  the issues with insurance policies.  They basically explain, what has been covered in the past and it may  put doubts into your mind about your own insurance policy.  Would my insurance policy cover that type  of accident?  Being able to relay these commercials in short, 30-60 second commercials might be an  effective manner to get your point across.

Application: This has not been tried at the overall company where I am employed, however we have  had the opportunity at times to change behavior by telling stories to make places safer.  If the right story  is told and can be presented in a compelling manner it will have some effect.  One example would be  using data to creatively tell a story about the hazards of 12 and 15 passenger vans. Using both internal  and external data to innovate and develop tools to educate organizations about the hazards of the vans  was design thinking.  If we had just used the data without the story telling and innovation it would not  have been effective.  Getting a group of individuals to brainstorm ideas we were able to develop tools to  change behavior.

Insight: Storytelling allows you and others to think of compelling ways to tell a story that will allow them  to think of concerns or questions they may have regarding their own insurance policies.  As I mentioned  before, this has been done to change behaviors to make things safer in my world, but has not really  been done to make the customer stick to you.  The stickiness factor will allow you to retain the customer  or attract a new customer to your business in the insurance environment.

Approach: As I mentioned at the beginning storytelling is important, however a combination of  storytelling and visualization is important to reaching a customer base.  Going forward, I think using a  combination of these tools will be most effective.  Going forward, using both tools is important and will  need to be used to varying degrees depending upon the audience and what you are trying to achieve.


Assignment : Reflection Chris Humphries June 11 , 2016 Challenge : The issue involves how you get your customers to understand the value of the services that you offer to them in an intangible environment . Working I the insurance industry we are basically offering an intangible product that has generally been looked at from a pure pricing standpoint . Having the customer understand the value that you bring to the table is basically a foreign concept . We are not in a product world where Apple is able to sell upgrades the product and people want the next version . Think about it , does someone really go out , read their insurance policy and want the latest and greatest version ? No , they want the less expensive price , until something goes wrong and then they may realize that they needed additional or different coverage(s ) . Selection : There are two tools that I think can be used from standpoint to assist with the challenge , visualization and storytelling . I am going to use the storytelling model , as I believe it is the most appropriate , however , good visualization in conjunction with storytelling is important and would need to use at times . In listening to the lectures , be able to tell a story that is compelling about an issue in the insurance industry may provide insight to the customer as to why your policy or services are better . One great example about the story telling is the Farmer ’s commercials on television . Farmers insurance have had the ability to relay true data driven claims stories to the audience to allow you to understand some of the issues with insurance policies . They basically explain , what has been covered in the past and it may put doubts into your mind about your own insurance policy . Would my insurance policy cover that type of accident ? Being able to relay these commercials in short , 30 - 60 second commercials might be an effective manner to get your point across . Application : This has not been tried at the overall company where I am employed , however we have had the opportunity at times to change behavior by telling stories to make places safer . If the right story is told and can be presented in a compelling manner it will have some effect . One example would be using data to creatively tell a story about the hazards of 12 and 15 passenger vans . Using both internal and external data to innovate and develop tools to educate organizations about the hazards of the vans was design thinking . If we had just used the data without the story telling and innovation it would not have been effective . Getting a group of individuals to brainstorm ideas we were able to develop tools to change behavior . Insight : Storytelling allows you and others to think of compelling ways to tell a story that will allow them to think of concerns or questions they may have regarding their own insurance policies . As I mentioned before , this has been done to change behaviors to make things safer in my world , but has not really been done to make the customer stick to you . The stickiness factor will allow you to retain the customer or attract a new customer to your business in the insurance environment . Approach : As I mentioned at the beginning storytelling is important , however a combination of storytelling and visualization is important to reaching a customer base . Going forward , I think using a combination of these tools will be most effective . Going forward , using both tools is important and will need to be used to varying degrees depending upon the audience and what you are trying to achieve .