Multi-Channel Resolution - Insurance

While away on holiday, my 10yr old son & I played a new game. It doesn’t have a formal name, and there is no real winners or losers, but helped pass the time on our way to Alaska from Texas. I’ll call it the “Wouldn’t be funny if…” game for lack of a better term. It’s simple, you just start a comment with “Wouldn’t be funny if” and the some statement. It’s enlightening to play with a 10yr old, who is not constrained by all the learning, social, and political norms restricting adults. So you get “Wouldn’t be funny if a bear jumped out of the woods and bit our tire off?” Or “Wouldn’t be funny if that glacier slid down the mountain and into the side of our ship?” The best one was “Wouldn’t be funny if there were no TVs and everyone had an iPhone(iPad) and got all of their (calls/mail/movies/television/email/internet/maps/music) stuff there?”

What I realized is that we are not far from that reality. With the new Kindle and iPad, these portable internet devices will soon handle more functions that today are either addressed in the physical world or by other devices, single use items that lose relevance quickly. Does anyone use their 1GB iPod or iPod Stick anymore? How many 256k thumb drives are in your desk drawer?

Working with insurance firms recently has reconfirmed the need to accelerate our migration to multi-channel delivery, agents clamor for it, insured demand it. It was the number one executive issues listed in the past survey we conducted, and several firms have cross functional teams assembled to address it. Some of them are closer to the future than others, and often times they are their own worst enemy – siloed functions, antiquated administrative and communication systems, and lack of executive vision to lead the firms forward. We’re working on new research to help better clarify the issues and provide clarity on the strategy forward. It makes me wonder, “Wouldn’t be funny if customer communication was simple, understandable, accessible, personalized, relevant, and timely?”

Multi-Channel Reinvention - Pitney Bowes

This is not your father's Oldsmobile, the mid-90's ad campaign rings true for other firms as well. One of those is Pitney Bowes, and its chairman Murray Martin used the derivative "this is not your father's Pitney Bowes" last week at the tech analyst and innovation days held at their world headquarters in Stamford. That introduction, in addition to a personalized video welcome which included references to up coming vacation destinations and recent industry awards, told me that I was in for something new and different this visit.

Pitney's traditional businesses have been under siege by Internet based alternatives, like so many others. This will continue, however their response has been to seek out strategic acquisitions, and then carefully combine those capabilities into robust solutions to address current and future business needs. Firms such as MapInfo, Digital Cement, and Group 1 Software are just a few of the dozens of firms acquired by Pitney since 2000. Combining those unique capabilities to offer greater value to the market was the goal, and today we are seeing the first glimpses of these offerings, such as its Small Business Portal, Crime Stopper, and PBSend.

That said, Pitney is still firmly grounded in the physical mail delivery business, but it is encouraging to see their push into alternative, multi-channel strategies and solutions. Customer communications management (CCM) is a key strategic plank, and their Hybrid Mail solutions look to strike that balance between the physical and electronic delivery models. Their managed mail/print services remains the lion's share of revenue, but business, and margins, in those markets is flat to declining. The transformation clock is ticking!

After listening to the senior leadership team, we are convinced that executing on the "new" PB strategy is well underway, with noticeable dividends. However much work remains to be completed. Other solution providers in the space should be put "on alert" to the reinvention taking place at PB.

Multi-Channel Customer Intimacy

Just wrapping up our inaugural member Spring Summit conference at the Hyatt in Reston Virginia. The day and half event was attended by 30 members, sponsors and thought leaders sharing ideas and go to market strategies for solving multi-channel customer intimacy issues. A mix of technology, services, outsourcing and consulting firms shared capabilities and go to market insights. Broadridge sponsored the event and Doug DeSchutter keynoted the second day, sharing their market leading e-delivery strategies to assist their clients to increase multi-channel adoption and ultimately retention.

TouchPoint's public launch was announced to be scheduled for June 15th in NYC in conjunction with Digital Marketing Days. Xerox, another TouchPoint sponsor, will be keynoting the address Tuesday, and along with DM title sponsor XMPie, will be hosting a reception to announce the launch. Expect clients, members and sponsor of TouchPoint to be present.

Stay tuned for more.