Mobile And Social Media And Technology Essay

business of insurance. But the lack of uniformity, loop holes, blind spots and deficiencies within

Most of the pictures that cover full pages are portraits of the customers who can be identified in different categories of ages, genders, and ethnicities. These customers suggest the diversity among Northwestern Mutual’s policyowners and the variety of products types provided by the company. The picture of a couple can be related to the financial plan option for the families, or the picture of a baby can be linked to the education savings plans. The customers in the photographs all look happy and have big smiles on their faces. Their portraits are important to help the readers visualize the key theme of the report by suggesting how Northwestern Mutual insurance and security planning satisfy its broad range of customers. In addition, there are photographs of the company’s employees who do not only look professional in their suits, but also appear to be approachable with their friendly smiling faces. These images of employees are arranged next to the photographs of the customers who are enjoying their regular life activities. This arrangement illustrates the good impacts that insurance plans have on customers. Organizing the photographs of its customers and employees throughout the annual report is an effective strategy for the company to emphasize its products and customer service quality, helpful and friendly.

At this time people were able to research the different types of insurance policies and therefore get a better rate. According to Levitt and Dubner (2009), “It is common for one party to a transaction to have better information than another party” (p.64). Information asymmetries has greatly decreased because of the internet. Although because of the internet it is easily to see an informational crime happen. The principle of putting

Insurance is an arrangement by which a company gives customers financial protection against loss or harm such as theft and illness in return for premium payments. One of the most important ways that external economic factors are affecting insurance industries is by experiencing a slow pattern in the economy. Insurance companies are affected by lower sales and lower rates of returns on their investments. Companies have to sell certain products for which they have the commitment and the

One of the top priorities of any practice is to maintain a healthy revenue cycle by processing and submit health insurance claims with speed and accuracy. But when daily claims management challenges like dealing with obsolete technology, scattered data sources and

To remain competitive and operational most insurance agencies are relying on mobile devices, social media and rethinking how they conduct business to remain relevant. Depending on whether you are in house agent, or field agent you will have the advantage of using your computer, phone, tablet to process applications. In the past agents would have to carry paper applications with them when visiting a prospective client. Modern technology is changing and applications can be processed electronically at your fingertips. Most insurance companies are shifting from point of sale system to a web based solution. This change will allow independent agents access into the policy pricing system to give the most accurate pricing information. Insurance agencies are also looking to change explanation of benefits to make it more user friendly for customers (Baseline Magazine).

As discussed the product of choice creates an opportunity for the consumer to submit a claim online hassle free. It is being designed to help the consumer submit their claims without having to wait on the phone for hours. This product is designed to help the consumers submit their claim without the hassle of being transferred from one representative to the next. The consumers of Allstate’s new product would be those that have insurance with the company, i.e. any type of policy holder that would require an insurance claim. Factors that would play a huge role within this type of organization would be the competition. Many insurance carriers seek the business of their competitors. They go after all types of people, persuading them to change their minds and even offering other services that the current insurance provider may not be able to meet. That is a major influence within the organization. Sometimes price can play a very huge role too. If the price of the insurance is lower and has more to offer it may be that business may be lost. Ensuring that the product is effective within the organization and for the consumer is key.

Geico Insurance has expanded its product base to include home insurance, commercial insurance, atv and motorcycle insurance, boat insurance, and umbrella policies to its customers still with the direct selling concept. As technology has evolved, so has Geico Insurance to make sure its products and services are meeting the needs of the consumers. In addition to offering a multitude of insurance products, Geico has expanded its services to its customers with new features such as online claim filing, applications for mobile phones, and online quotes. The variety of products and services reaches out to a large target group ensuring Geico Insurance has a product to meet most all consumers’ needs.

The History Of Insurance In America notes that one of the biggest changes in insurance occurred when the creation of the Internet enabled people to seek out online insurance quotes. Technology marches on and the buzz these days is all about the expectation that driverless cars will be the next big changes revolutionizing the world and potentially making

Every day, an accident occurs. The accident can be simple like a broken window, or the accident can be life threatening life a car crash. Either way, money would be required to fix both issues. When an accident happens, people turn to insurance companies to help come up with a solution. However, multiple insurance companies are ridiculed and thought of as companies which can abandon their customers at the time of need. Through commercials made by State Farm, the company helps citizens see how choosing State Farm Insurance would be beneficial to them through ethos, pathos, and logos.

The challenge for the insurance companies nowadays is to provide the right type of policy to the customer as per the financial needs of customers. IDBI Federal is yet to prove its worth in the industry. Though IDBI Federal is able to sell the right policy to the right customer but the needs to boost up its advertisements to build a bond of mutual trust between the customers and the company. The products of IDBI Federal require additional features in it.

AW provides a digital platform that connects patients with clinical providers at any time in any place. As the company looks to make a national rollout of its services to health insurance companies and individuals, it is already considering other services to provide within its platform (“Team Edition”) in addition to offering their services to other customers such as retail clinics, pharmacies and hospitals. The Schoenberg brothers must decide whether they should divert funds and time consuming effort in order to market to these other potential customers and bring out new products, or concentrating on what is currently available within AW when pitching to insurance companies.

Despite the fact that we’re already in the 21st century, society continues to show signs of progress and development strongly leaning towards the direction of advancement, constantly evolving. This pattern is no different from the world of advertising, as it has also evolved through the years and quite recently an unexpected technological innovation took the world by storm. It made such a tremendous impact that eventually led to the transformation of traditional marketing, and it’s no other than social media that we all learned to love.

Changes in tax laws, government benefit programs, and other State and Federal regulations can affect the insurance needs of clients and how agents conduct business (Abraham & Herman, 1998). Courses in psychology, sociology, and public speaking can prove useful in improving sales techniques (Abraham & Herman, 1998). The use of computers to provide instantaneous information on a wide variety of financial products has greatly improved agents’ and brokers’ efficiency and enabled them to devote more time to clients’ needs (Abraham & Herman, 1998).

More recently than in years past, digital technology and social media have grown to become a part of our everyday lives. The recent rise in those who own smartphones allows this everyday use of digital technology and social networking to be easier than ever before. At any time and any place, we have the ability to “socialize” with nearly anyone—even celebrities who have no idea most of us even exist. The continuous consumption of digital media has altered once personal face-to-face communication to just that, digital. More and more people seem to be living in what Sonia Maasik and Jack Solomon call “The Cloud”. “The Cloud” is a seemingly alternate universe of which communication is altered from personal to digital. This universe has led to debates over whether or not these online communities are real or whether social media is actually social. Various digital media sources also encourage users to create individual identities, of which may or may not actually be real. It seems as though our reliance on digital technology and social media have allowed the determination of certain aspects of our lives. Although social media allows us to connect with nearly anyone at any time, Americans have taken advantage of its use, and their attention has been drawn away from real life interactions to digital ones. The ramifications of such influences reflect the hidden insecurities of Americans and, ironically, emphasize our inclination to boast about ourselves by allowing others to see the