Idea Management for the Insurance Industry
In an increasingly customer-centric environment, Wazoku helps insurance companies be innovative and remain relevant.
The insurance world is changing at an unprecedented pace and insurers are facing a number of challenges:
- How to introduce and adopt disruptive digital technologies
- Users want a vastly improved customer experience and products tailored to their specific needs
- The widening gap between modern insurtech agencies and traditional ones
- Internal workflows need automation to increase operational efficiencies
- Claims, risk and policy management must evolve to meet consumer demands
- Employees want a more inclusive and collaborative place of work
Where do you find the new customer-centric product ideas or cultivate the environment for cross-functional or cross-department collaboration?
We’ve created a culture which rewards people for challenging ideas and thinking differently, as well as delivering results. As a result, our fantastic colleagues feel empowered to challenge our process and Idea Lab ensures that their ideas are heard and implemented. This helps us as a business deliver for our customers, making insurance much easier and better value.
How can the insurance sector innovate with idea management?
Focus on the customer journey
Put the insurants’ needs at the forefront of your business. Why not involve them in the product development process to build offers together? Learn how
Digitise the right process, in the right way
Who should be involved in establishing plans for operational efficiency – brokers, customers, accelerators, employees? Give everyone the opportunity to make a contribution. Learn how
Cross-sell other insurance products
By knowing your customers better and delivering more tailored products, up-selling and cross-selling becomes much smarter. Learn how
Be a more inclusive organisation
Train and enable staff to think differently whilst fostering a culture of innovation. Learn how
Adapt/change legacy systems
Outdated technology can be a huge barrier to innovation. Collect, evaluate and implement ideas for change and optimisation. Learn how
Optimise claims, risk and policy management
Crowdsource ideas to develop, evaluate and implement to meet consumer demands and increase employee engagement. Reduce the high-turnover of call center staff by allowing people to affect change and deliver solutions from the ground up. Learn how
See how we've helped our insurance customers innovate:
A British multinational insurance company
Driven by customer needs, the Customer Cup competition discovered new markets and product lines which represented more than £10 million in new revenue, whilst engaging 5K+ employees across 18 markets. Read more.