Mobile Technology: Miss it, Miss Out

Simon Hughes Open GI Chief Operating Officer
Pictured: Simon Hughes, Sales and Marketing Director, Open GI

Should insurers go mobile? As traditionally one of the most conservative industries in the UK, insurance has always been somewhat hesitant to jump on the latest digital bandwagon or even the next big thing. However, growing evidence suggests that mobile is the way of the future in today’s marketplace.

Desktop and laptop sales have flattened at best and the use of mobile devices, tablets and smartphones are becoming increasingly the norm for so many people, worldwide. Customers expect mobile now, and insurers need to be ready to respond to that expectation.

This is reinforced by analysis published by insurance comparison site, Confused.com, which has revealed that there has been a significant increase in customers seeking car insurance through mobile devices. Since May 2012, Confused.com has reported a decline of over 33% in visits via a desktop computer compared to a rise of almost 25% for mobile and 10% for tablet devices for the same period.

Increasingly customers now have the expectation that they will be able to compare insurance quotes, benefits and other factors online, while on the go. The customers who are shopping around via their mobile device won’t wait until they have access to a PC to check the companies lacking good mobile access – they will simply move on and find a company who has that capability.

In light of this, for the insurance industry, insurers should not delay in embracing the power of mobile technology. In fact insurers should ensure that their methods to engage and serve their customers’ needs adopt a multi-channel approach which includes the use of mobile.

Mobile technology and responsiveness can also benefit wider businesses too. The use of mobile apps can help access and transmit information as well as generating graphics, presenting video content and others tools to engage with larger blue-chip companies. Businesses who do not provide mobile support to their field sales force and other employees could risk falling behind their competitors. Those that do are better equipped to access this type of information, literally at their fingertips, wherever they are.

Mobile is here to stay and it’s growing in leaps and bounds and represents an exciting new opportunity for all sectors. Customers, employees and UK industry itself all stand to benefit from these opportunities. Many insurance companies are already embracing mobile technology, and those who don’t risk getting left behind. Companies need not race into mobile. In fact, careful analysis and planning is key to any great mobile strategy.

The answer to whether a business would miss out on embracing mobile technology or not is likely to be a resounding “yes”, and this rapidly-changing technology can carry insurers and many other industries into a brighter future.

For more information about Open GI:

Helen Andrews
Group Head of Marketing & PR

Notes to Editors:

Open GI is one of the leading technology partners to the General Insurance industry. Open GI provides a range of configurable insurance software to insurance brokers, underwriting agencies, insurers and MGAs in the UK and Ireland.

Its digital insurance solutions, which includes Mobius and Core, provide multi-line, multi-channel, multi-brand trading capability complemented by innovative eCommerce and mobile technologies.

Open GI is part of the Open International Group and has 550 staff across offices in Worcester, Dublin, London, Winchester, Milton Keynes, Skopje and Krakow.