Is rapidly changing technology driving rapidly changing
human behaviour, or vice versa? What we know, is that the insurance and
asset management sector must manage both simultaneously. New technology
and digitalisation are enabling increased customer engagement in
personal finance management, while at the same time increasing demand
for services that are remote and accessible, personal and relevant.
However, by embracing these changes, and leveraging the opportunities
they bring, we will be even better equipped to help people secure their
financial futures.
Relevant for customers
During a recent insurance conference in the Netherlands, Sander Kernkamp, CEO of Nationale-Nederlanden Non-life, gave a clear example of how innovation starts with understanding customer behaviour. Using increased traffic safety in the Netherlands as motivation and inspiration, he explained a recent innovation stemming from the business: ‘Ninety per cent of all car accidents happen due to human mistakes. New technology can potentially lower this percentage. The key to enabling this, is understanding behaviour in order to find out where technology has added value. From our ‘Pay how you drive initiatives’ such as Fairzekering, @Voorop and Rijwijzer, we learned that innovation really works when the customer considers the feedback he or she receives - regarding driving behaviour - as valuable. Innovation works if it is appealing and relevant for customers.’
Prevention pilot
Further connecting innovation to customer behaviour, Nationale-Nederlanden Non-life will launch a pilot aimed at making homes more ‘burglar-proof’ with a ‘smart doorbell’. The smart doorbell has a video camera, smart motion detection and cloud recording inside. Built-in motion sensors detect any activity on the property and triggers instant mobile alerts, giving home owners peace of mind at home and when away. The pilot includes mobile warnings from neighbourhood watch organisations in case of potential burglars or break-ins, and support service after a break-in, when things do go wrong in spite of all prevention measures. Learning from customer, feedback is paramount in this pilot.
Corporate garage
As a hub for idea sharing and brainstorming in the Netherlands, Non-life has been operating ‘Sparklab’ for one year now. This corporate garage is located near the NN head office in The Hague, and is a place where a specific group of employees work full time on innovations and prototyping. It is also a place that invites the outside world in, and where joining forces with innovative partners, industry innovators and forward thinkers is encouraged. Sander Kernkamp: ‘Radical innovations come in most cases via open sources. If we really want to innovate the insurance industry, companies should join forces and be inspired by start-ups, students and those making waves in and outside the industry. We should open the doors of our corporate garages.’
