Strategic Interactive Marketing Project

The initial research findings have been documented in a report called Riding the Whirlwind - Strategic Interactive Marketing in Insurance. Overtime, more and more parts of this 150 page report will be placed on this web site (click the report cover to see what's now available). Meanwhile, to view the Executive Summary click on the link. The Executive Summary list the major UK financial services companies and the major industry suppliers who contributed to the study.

Aims

To assist insurance industry players in:

• learning, developing and applying the principles of 1 to 1 Marketing and
  Mass Customisation for competitive edge.

To help companies achieve the above aims by:

• exploiting the new interactive mediums;
• developing effective and efficient processes;
• successfully applying relevant organisational change techniques.

Click here for a review of the Concepts and Principles.

Insurance Industry Players
 

• Insurance and Investment Companies
• Banks and Bancassurance Companies
• Retailers expanding into financial services
• Suppliers of products and services to the above.

Activities to-date have included:
 

• Research into 1 to 1 Marketing and Mass Customisation concepts
• Research into the enabling technologies, such as interactive mediums, data mining, and object technology
• Interviews with leading UK financial organisations, usually with marketing
• Interviews with leading UK suppliers and academics working in the same area
• Presentations to, and telephone and Internet discussions with, other interested parties
• Development of the SIM Framework including interactive insurance scenarios
• Development of a SIM Marketing Strategy
• Creation of the 150 page report:
    Riding the Whirlwind: Strategic Interactive Marketing in Insurance
   
• Creation of the Executive Summary
• Further research into component based development
• Presentation to Unicom's Component Based Development seminar
• Creation of Managing Change's Web site
• Enhancements to the web site, particularly in the areas of Digital, Interactive and Web TV and Mobile Computing
   

Future activities to include:
 

• Maintaining an awareness of SIM developments. I.e.
  • Political, Economic, Social, and Technological drivers.
  • the inter-section of One-to-One Marketing, Mass Customisation, and the Interactive Mediums
  • systems that enable SIM developments.
  • use of SIM, particularly within Financial Services.
• Further specific research into:
  • Consumer behavioural analysis and prediction.
  • Enterprise respository systems
  • Rule Based Approach and Rules based systems
• Building alliances with key players.
• Continuing to develop the Strategic Interactive Marketing framework and methodology.
• Maintaining this Web site. In particular:
  • Adding further sections of the Riding the Whirlwind report.
  • Inviting additional Guest Contributions.
  • Adding further SIM examples and links.
  • Maintaining the databases of Example Companies and of SIM Resources
  • Developing in-depth assessment of other interactive mediums
• Promoting SIM in general and Managing Change's contribution in particular.
• Helping Financial Services companies to understand and develop SIM capabilities.

The SIM Framework

Managing Change has developed a framework that is built around the Customer Life Cycle:
 

• Relationship Cycle defining 4 stages of customer interaction and intimacy:
  • Mass Information
  • Mass Presentation
  • Mass Personalisation
  • Mass Customisation
• Acquisition Cycle defining the buying process
• Service Cycle
• Disposal Cycle
• Communications Cycle defining linked communication actions within the above cycles.

To support the above, there are complementary cycles of:
 

• Brand Development Cycle
• Product/Service Development Cycle

For more details on the SIM Framework follow the link.

The SIM Methodology

Comprehensive, strategic and resource demanding changes cannot risk being implemented in an ad-hoc fashion. They need to have sufficient formal methods that reduce implementation risk, whilst avoiding the risk of stifling creativity, and in ensuring responsiveness to changes in the market place or in technology.

Managing Change is developing a SIM Methodology that includes:
 

• Market driven Development Processes
• Models and Frameworks
• Tools
• Techniques

Where appropriate, these will be bought-in or outsourced. For more details on the SIM Methodology and the SIM Toolkit follow the links.

Riding the Whirlwind - Strategic Interactive Marketing in Insurance

Overtime, sections of this 150 page report will be placed on this web site (click the report cover to see what's now available). Meanwhile, to view the Executive Summary click on the link. The Executive Summary lists the major UK financial services companies and the major industry suppliers who contributed to the study.

External Resources
 

1. Cooper A E, Riding the Whirlwind: Strategic Interactive Marketing in Insurance, Managing Change, Andover, England, 1997. (Executive Summary available from the author or here).
2. Database of example companies undertaking Mass Information Mass Presentation, Mass Personalisation and Mass Customisation (these are the 4 levels in Managing Change's Strategic Interactive Marketing framework).
3. See the Links to External SIM Resources.

[Overview] [Concepts and Principles] [Distribution Issues]
[Behaviour Analysis and Behaviour Models]
[Business Rules Approach] [SIM Brochure]

[SIM Overview] [One to One Marketing] [Mass Customisation] [Interactive Mediums] [STEP Analysis]
 [SIM Executive Summary] [SIM Report] [SIM Project] [SIM Framework] [SIM Methodology] [SIM Illustrations] [SIM Links]

[Key Information & Resources] [Guest Contributions] [List of Support Topics] [What's On]

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