Riding the Whirlwind

Strategic Interactive Marketing for the Insurance Industry

Key Points:

Society is changing rapidly in all dimensions: Political, Economic, Social and Technological.

It is the pace of change and the unpredictability that makes the future difficult to deal with.

We may well be at the end of a continuum and about to experience a paradigm shift.

People and businesses are increasingly constrained by lack of time and by inflexible and out-dated processes.

3.1 Drivers of Change

3.1.1 Political

• Free market economics and reduced state intervention.
• Emphasis on self reliance and responsibility.
   

3.1.2 Economic

• Globalisation.
• Dominance of the retailers and power of the brand.
• Increasing competition in FS, often from new directions.
• An increasing variety of distribution mechanisms.
• Many 1st World markets are becoming saturated.
   

3.1.3 Social

• Increasing numbers of elderly and smaller households.
• A society that is active 24 hours per day, 7 days per week.
• More fragmented and disjointed life-styles.
• A more polarised society, with a decline in the C2's (a mass market attracted to traditional brands) now at only 23%.
   

3.1.4 Technological

• Increasing pace of technological innovation delivering increase power and lower costs.
• Significant increase in communications bandwidth with competition leading to a reduction in unit costs.
• Advent of the global wired society
• A trend towards narrow casting.
   

Technology provides freedom and choice of place, time, methods (ways), and content.

Anytime, Anyplace, Anyway.