Insurance

For your Department: Marketing


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The insurance environment of today is rapidly changing, and the rules of yesterday no longer apply. The corporate and legal barriers that separate the various banking, investment, and insurance sectors are blurring, and the cross-overs are increasing. As a consequence, the marketing function is also changing to better support the insurance company in this dynamic financial services market environment. The key marketing challenge today is to provide support and counsel on the focus, positioning, and marketing resources needed to deliver performance on the insurance company’s products and services. Marketing as an investment advisor is about re-defining delivery needs, not only within key strategic market segments, but increasingly within relevant insurance micro-segments.

Barriers to better marketing insight and performance management can include:

  • Defining the "size of the prize" has become more complex
  • Lack of integrated and enhanced information
  • Number-crunching competes with creativity.

As investment advisor, Marketing guides strategic and operational activity, which focuses on the potential of specific markets and how the organization can meet these market needs. In this role, Marketing can also be an early detection system for how changes in the market lead to changes in products and services, selling strategies, or even more far-ranging operational elements of the business. “The Performance Manager for Insurance,” a new book from Cognos, an IBM company, helps marketing use technology to define, understand, and lead four core areas of the insurance company's decision-making:

  • Marketing opportunities: What is the profit opportunity?
  • Competitive positioning: What are the competitive risks to achieving it?
  • Market and customer feedback: What external verification process will enhance and confirm product and service value propositions?
  • Demand generation: How do we reach and communicate value to customers?
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The Performance Manager for Insurance
Podcast
Listen to this two-part interview with co-authors Craig Bedell, director of Global Insurance Services for Cognos, and Dr. Richard Connelly, chairman and co-founder of BI International. In Part One, learn about some of the key trends driving better performance management in the insurance industry. In Part 2, find out more about why business intelligence has emerged as an enabling technology in insurance.
Read Now
Cognos and Risk Management: Managing Risk Through Business Intelligence
Online Demo
See how business intelligence can help you analyze and report on risk exposure in your company.
Performance Management for Insurance
Fact Sheet
Read how Cognos helps leaders in the insurance sector-including six of the top 10 insurance companies in the world-manage risk and improve profit.
Assessing Property/Casualty Insurers’ Use of Business Analytics
Analyst Report
Find out how insurers are using analytics to set goals, metric and measures for success and strengthen competitive advantage in pricing, marketing, customer service and more.
Better Planning for Insurance Companies
White Paper
Find out the technology and best practices for more effective planning in insurance.
Insurance Product Profitability
Business Value Guide
Read how the IBM Cognos Insurance Product Profitability Performance Blueprint helps insurers create business segment profit-and-loss statements and balance sheets by product line, product, and brand.
The Risk-Based Early Warning System
Analyst Report
What does the future hold for your business—stagnation and gradual decline, or constant, aggressive growth? In the second of a provocative series of articles, David Axson and Gregory Hackett explain how the finance organization can help businesses assess and address risk.
Insurance Product Performance Blueprint
Online Demo
See for yourself how this Blueprint can help your organization create business segment profit-and-loss statements and balance sheets by product line, product, and brand.
Rapid Scorecarding for financial services
White Paper
Find out the value of scorecarding and the five key steps to creating an effective one.
 
Insurance Resources
Performance Management for Insurance
Book
Discover proven strategies for turning information into insurance performance management.
Reporting and Performance Management
Online Demo
See reporting as part of managing performance for every department.
Performance Management for Insurance
Fact Sheet
Find out the proven strategies for turning information into insurance performance management.
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