Social Media and Context Awareness Imperatives for Insurance Marketeers

Mobius Innovations April 2013

STRICTLY PRIVATE AND CONFIDENTIAL

Nirmal Palaparthi  

Social  Media  &  Mobile  Marke/ng  for  Insurance  

In the beginning there was the computer

STRICTLY PRIVATE AND CONFIDENTIAL 2

Then the internet was built

STRICTLY PRIVATE AND CONFIDENTIAL 3

They built a Social Media layer over it

STRICTLY PRIVATE AND CONFIDENTIAL 4

STRICTLY PRIVATE AND CONFIDENTIAL 5

Data layer underneath

STRICTLY PRIVATE AND CONFIDENTIAL 6

h7p://www.widetag.com/widenoise/      

Data is the new oil

STRICTLY PRIVATE AND CONFIDENTIAL 7

Social Risk Measurements

STRICTLY PRIVATE AND CONFIDENTIAL

Data Layer

New Child: Internet of things

STRICTLY PRIVATE AND CONFIDENTIAL 9

STRICTLY PRIVATE AND CONFIDENTIAL 10

Who is insuring these devices?

Product Evolution

STRICTLY PRIVATE AND CONFIDENTIAL

STRICTLY PRIVATE AND CONFIDENTIAL 12

Personal Augmentation

STRICTLY PRIVATE AND CONFIDENTIAL 13

STRICTLY PRIVATE AND CONFIDENTIAL 14

STRICTLY PRIVATE AND CONFIDENTIAL 15

Devices built Social

STRICTLY PRIVATE AND CONFIDENTIAL

STRICTLY PRIVATE AND CONFIDENTIAL 17

The Demise of the Music Industry

STRICTLY PRIVATE AND CONFIDENTIAL 18

The rise of the singles

STRICTLY PRIVATE AND CONFIDENTIAL 19

Insurance could take the same path

Characteristic Music Insurance

Digitally deliverable Yes Yes

Personalizable Yes Yes

Product Variation Yes Yes

Infinite Inventory Yes Yes

High Choice Multiplicity Yes Yes

Highly Competitive Yes Yes

iTunes Yes ??

Configurable Pricing

STRICTLY PRIVATE AND CONFIDENTIAL

STRICTLY PRIVATE AND CONFIDENTIAL 21

PAYD / PHYD

STRICTLY PRIVATE AND CONFIDENTIAL 22

PAYD / PHYD

STRICTLY PRIVATE AND CONFIDENTIAL 23

Mobile strategy: 1300 Apps and counting…

STRICTLY PRIVATE AND CONFIDENTIAL 24

Third Party Bundling

STRICTLY PRIVATE AND CONFIDENTIAL

STRICTLY PRIVATE AND CONFIDENTIAL 26

h7p://www.slideshare.net/ctorgan/self-­‐tracking-­‐sensors-­‐and-­‐mhealth-­‐trends-­‐and-­‐opportun/es      

Personal Measurement Fetish

Value Added Services

STRICTLY PRIVATE AND CONFIDENTIAL

STRICTLY PRIVATE AND CONFIDENTIAL 28

Consumers initiate all the communication

STRICTLY PRIVATE AND CONFIDENTIAL 29

If you join midway…

Contextual Marketing

STRICTLY PRIVATE AND CONFIDENTIAL

Mobius Innovations Big Data . Smart Devices . Context Awareness

Next generation service providers

•  Sense Context and Respond appropriately •  Remember the customer •  Use real time analytics to enhance customer dialog

–  Bring down the test and learn cycle to nanoseconds

•  Mobius provides an interface library that can be customized across touch points

10/4/13 Private & Confidential 32 of 14

33

LOCATION BASIC

OWNERSHIP

LIFESTAGE

EVENT DURATIONS PU

RCHA

SING

PAT

TERN

Case Study: Transaction Context

STRICTLY PRIVATE AND CONFIDENTIAL

Figure: Transaction Contextual Dimensions

?  ?  

ACTUATOR LIBRARY

MOBIUS CORE

SENSOR LIBRARY

10/4/13 Private & Confidential 34 of 14

Product architecture

COMMUNICATION

DOMAIN REPOSITORY

PERSONALIZER

ON DEVICE SENSORS

SMART DEVICE SENSORS

LIFESTREAM SENSORS

PUBLICLY AVAILABLE SENSORS

INTERFACES

FACTS

ON DEVICE ACTUATORS

SMART DEVICE ACTUATORS

LIFESTREAM ACTUATORS

INTERFACE ACTUATORS

CONTEXT REASONER

CONVERSATION MANAGER

INTERFACE OPTIMIZER

TOUCH POINT CONFIGURATOR

TOUCHPOINTS

PERSONAL RECOMENDER

MAR

KETE

ER

EXTERNAL RECORD

SENSORS LEARNING ENGINE

EXTERNAL ACTUATOR

API

CONTEXTUAL MODELS

QUESTIONS?

nirmal@mobius.ai

STRICTLY PRIVATE AND CONFIDENTIAL